Flagstar Bank, National Association (NYSE:FLG) Hits New 52-Week High – Still a Buy?

Shares of Flagstar Bank, National Association (NYSE:FLG) reached a new 52-week high on Thursday . The company traded as high as $13.37 and last traded at $13.5850, with a volume of 247153 shares traded. The stock had previously closed at $13.19.

Wall Street Analysts Forecast Growth

FLG has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Citigroup lifted their price target on Flagstar Bank, National Association from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Cantor Fitzgerald assumed coverage on Flagstar Bank, National Association in a research note on Wednesday, September 10th. They set an “overweight” rating and a $15.00 price objective on the stock. TD Cowen initiated coverage on Flagstar Bank, National Association in a research report on Thursday, September 25th. They issued a “hold” rating and a $14.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.14.

Flagstar Bank, National Association Stock Up 3.1%

The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average of $11.78 and a 200-day moving average of $11.78. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -13.97 and a beta of 1.11.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $498.00 million during the quarter. Flagstar Bank, National Association had a negative net margin of 7.06% and a negative return on equity of 3.80%. As a group, sell-side analysts forecast that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Sunday, December 7th were given a $0.01 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is -4.12%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC acquired a new position in Flagstar Bank, National Association during the 2nd quarter valued at about $28,000. Financial Freedom LLC bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at $31,000. UMB Bank n.a. bought a new stake in shares of Flagstar Bank, National Association during the 2nd quarter worth $33,000. Ameritas Advisory Services LLC acquired a new position in shares of Flagstar Bank, National Association in the 3rd quarter worth $33,000. Finally, Marquette Asset Management LLC acquired a new stake in Flagstar Bank, National Association during the 2nd quarter worth about $35,000. 67.88% of the stock is owned by institutional investors.

About Flagstar Bank, National Association

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.