Flagstar Bank, National Association (NYSE:FLG) Upgraded by Truist Financial to Buy Rating

Flagstar Bank, National Association (NYSE:FLG) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Tuesday,Benzinga reports. The firm currently has a $17.00 target price on the stock, up from their prior target price of $13.50. Truist Financial’s price objective would suggest a potential upside of 25.57% from the stock’s previous close.

Several other analysts have also recently commented on FLG. Cantor Fitzgerald raised their price target on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Morgan Stanley raised their price target on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Citigroup raised their price target on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $14.00 to $16.00 in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.11.

Flagstar Bank, National Association Stock Performance

Flagstar Bank, National Association stock opened at $13.54 on Tuesday. The firm’s 50 day simple moving average is $13.24 and its 200-day simple moving average is $12.51. The company has a market cap of $5.63 billion, a P/E ratio of -26.55 and a beta of 1.02. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.92 and a quick ratio of 0.91. Flagstar Bank, National Association has a fifty-two week low of $9.64 and a fifty-two week high of $14.53.

Flagstar Bank, National Association (NYSE:FLG) last released its earnings results on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) earnings per share. As a group, equities research analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Flagstar Bank, National Association by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock valued at $94,277,000 after acquiring an additional 467,053 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after acquiring an additional 6,096,512 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Flagstar Bank, National Association by 4.0% in the third quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock valued at $72,669,000 after acquiring an additional 240,119 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Flagstar Bank, National Association by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company’s stock valued at $77,589,000 after acquiring an additional 316,612 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock valued at $58,243,000 after acquiring an additional 1,750,889 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.