Flagstar Bank, National Association’s (FLG) Overweight Rating Reiterated at Cantor Fitzgerald

Flagstar Bank, National Association (NYSE:FLG)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $16.00 price objective on the stock. Cantor Fitzgerald‘s price target would suggest a potential upside of 56.34% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings raised Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Barclays cut their target price on shares of Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday. 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 target price on the stock. TD Cowen dropped their price objective on shares of Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Flagstar Bank, National Association Stock Down 1.4%

Shares of FLG opened at $10.23 on Tuesday. The company’s 50-day simple moving average is $12.46 and its 200-day simple moving average is $13.49. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a 1 year low of $10.16 and a 1 year high of $15.44. The stock has a market capitalization of $4.25 billion, a PE ratio of 68.23 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $530.00 million for the quarter, compared to analysts’ expectations of $545.12 million. Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. During the same period in the previous year, the company earned ($0.07) earnings per share. Analysts forecast that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association declared that its board has approved a share buyback plan on Friday, July 24th that authorizes the company to buy back $250 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Large investors have recently bought and sold shares of the stock. Hourglass Capital LLC raised its stake in Flagstar Bank, National Association by 2.1% during the 3rd quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock valued at $2,802,000 after acquiring an additional 5,000 shares during the last quarter. Inspire Investing LLC lifted its stake in Flagstar Bank, National Association by 18.9% in the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock valued at $634,000 after buying an additional 8,620 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Flagstar Bank, National Association by 57.8% during the third quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock valued at $541,000 after acquiring an additional 16,996 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Flagstar Bank, National Association by 26.0% during the third quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock worth $248,000 after buying an additional 4,376 shares in the last quarter. Finally, Core Capital Management & Research inc. purchased a new position in shares of Flagstar Bank, National Association during the 2nd quarter worth $50,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Key Flagstar Bank, National Association News

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Fitch affirmed Flagstar’s issuer rating at BB+, indicating the bank’s core credit rating was maintained. Several analysts still see potential upside from current levels, with TD Cowen and Truist retaining “buy” ratings and Barclays maintaining an “overweight” rating. Fitch affirms Flagstar Bank at BB+ but lowers outlook on delayed recovery
• Positive Sentiment: Flagstar’s commercial and industrial loan balances grew 38% year over year to $20.6 billion, offering a potential growth engine as management works through credit and interest-rate challenges. Flagstar Bank: High Margin Of Safety, Despite Credit Issues
• Neutral Sentiment: Analyst opinions remain mixed: RBC and JPMorgan rate the stock “sector perform” and “neutral,” respectively, while their revised targets of $12.00 and $11.50 remain above the current trading level. RBC Flagstar rating
• Negative Sentiment: Fitch lowered its outlook because Flagstar’s recovery is expected to take longer, increasing concern about profitability, asset quality and balance-sheet risk. Fitch outlook update
• Negative Sentiment: Management linked a $12.9 billion rent-regulated apartment loan portfolio to frozen rents and rising capitalization rates. A shareholder-investigation notice followed, adding legal and reputational risk after FLG shares declined sharply. Flagstar investigation notice
• Negative Sentiment: RBC, TD Cowen, JPMorgan, Barclays and Truist all reduced their price targets, reflecting heightened credit, margin and earnings risks despite several analysts retaining bullish ratings. RBC cuts Flagstar price target
• Negative Sentiment: Recent quarterly results missed expectations, with EPS of $0.01 versus the $0.07 consensus and revenue of $530 million versus $545.12 million. Higher credit-loss provisions, a 2.7% sequential book-value decline and reduced net-interest-income guidance further weigh on sentiment. Flagstar earnings and credit issues

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.