JPMorgan Chase & Co. Issues Pessimistic Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $15.50 to $14.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 22.54% from the stock’s current price.

FLG has been the subject of a number of other reports. DA Davidson reissued a “buy” rating and set a $17.00 price objective on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Wall Street Zen cut shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Weiss Ratings lowered shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. Cantor Fitzgerald lifted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Raymond James Financial initiated coverage on shares of Flagstar Bank, National Association in a research note on Wednesday, September 2nd. They issued a “market perform” rating on the stock. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.62.

Flagstar Bank, National Association Price Performance

Shares of NYSE FLG traded down $0.24 during mid-day trading on Thursday, reaching $11.43. The company’s stock had a trading volume of 1,985,124 shares, compared to its average volume of 4,883,625. The stock has a 50-day moving average of $13.43 and a two-hundred day moving average of $13.86. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $4.74 billion, a P/E ratio of 379.50 and a beta of 0.99. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted ($0.14) EPS. On average, equities research analysts anticipate that Flagstar Bank, National Association will post 0.31 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its board has approved a stock repurchase plan on Friday, July 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its position in shares of Flagstar Bank, National Association by 114.0% during the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Core Capital Management & Research inc. acquired a new stake in shares of Flagstar Bank, National Association during the 2nd quarter worth about $50,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth about $54,000. Signature Equity Partners LLC purchased a new stake in Flagstar Bank, National Association during the first quarter worth approximately $74,000. Finally, Nykredit A S purchased a new stake in Flagstar Bank, National Association during the second quarter worth approximately $153,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.