Piper Sandler Increases Flagstar Bank, National Association (NYSE:FLG) Price Target to $17.50

Flagstar Bank, National Association (NYSE:FLG) had its price target boosted by equities research analysts at Piper Sandler from $16.50 to $17.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 15.78% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. Morgan Stanley boosted their target price on Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Barclays increased their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Tuesday, April 21st. Finally, Citigroup boosted their price objective on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.83.

Flagstar Bank, National Association Trading Down 0.2%

Shares of FLG stock traded down $0.04 on Friday, reaching $15.12. The company had a trading volume of 542,480 shares, compared to its average volume of 5,040,304. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. The stock has a market cap of $6.30 billion, a PE ratio of -68.70 and a beta of 1.02. The company has a 50-day moving average of $14.20 and a 200-day moving average of $13.52. Flagstar Bank, National Association has a 12 month low of $10.55 and a 12 month high of $15.36.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The business had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. During the same quarter last year, the firm earned ($0.26) EPS. Flagstar Bank, National Association’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Flagstar Bank, National Association will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA acquired a new position in Flagstar Bank, National Association during the first quarter worth $172,000. Amundi increased its stake in Flagstar Bank, National Association by 93.9% in the 1st quarter. Amundi now owns 19,716 shares of the company’s stock valued at $260,000 after buying an additional 9,550 shares during the last quarter. California State Teachers Retirement System lifted its position in Flagstar Bank, National Association by 26.2% during the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock worth $4,905,000 after buying an additional 77,292 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Flagstar Bank, National Association by 4.0% during the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Flagstar Bank, National Association by 32.7% during the 1st quarter. Quantinno Capital Management LP now owns 18,951 shares of the company’s stock worth $250,000 after buying an additional 4,670 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

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.