Flagstar Bank, National Association (NYSE:FLG) Price Target Lowered to $17.00 at TD Cowen

Flagstar Bank, National Association (NYSE:FLG) had its price objective reduced by equities researchers at TD Cowen from $18.00 to $17.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 22.88% from the stock’s previous close.

A number of other equities research analysts have also commented on FLG. Royal Bank Of Canada lowered their price target on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Monday. Truist Financial upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.50 to $17.00 in a research note on Tuesday, April 7th. Barclays increased their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Friday, July 17th. Finally, UBS Group assumed coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Stock Down 0.1%

FLG traded down $0.01 during midday trading on Monday, reaching $13.84. 2,330,423 shares of the company were exchanged, compared to its average volume of 5,021,703. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 460.83 and a beta of 1.01. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The company’s fifty day moving average price is $14.51 and its 200 day moving average price is $13.81. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 0.97.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million during the quarter, compared to the consensus estimate of $540.87 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. As a group, analysts expect that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Flagstar Bank, National Association announced that its board has initiated a stock repurchase program on Friday, July 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. DV Equities LLC purchased a new position in Flagstar Bank, National Association during the 4th quarter valued at about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth about $34,000. Litman Gregory Wealth Management LLC bought a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at approximately $34,000. Advisory Services Network LLC bought a new position in shares of Flagstar Bank, National Association in the third quarter valued at approximately $35,000. Finally, Clayton Financial Group LLC purchased a new position in Flagstar Bank, National Association during the fourth quarter valued at approximately $42,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Financial Corporation (NYSE: FLG) is a bank holding company whose principal subsidiary, Flagstar Bank, provides a range of financial services across the United States. Headquartered in Troy, Michigan, Flagstar combines commercial banking, mortgage lending and servicing, and deposit products to serve individuals, businesses and public entities. As a publicly traded company, Flagstar leverages its banking charter and national mortgage platform to deliver tailored financial solutions through both digital and branch channels.

The company’s mortgage business is one of the largest residential originators and servicers in the nation, offering retail, wholesale and correspondent lending channels.