Flagstar Bank, National Association (NYSE:FLG) Stock Gets Price Target Cut from Truist Financial

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by equities research analysts at Truist Financial from $15.00 to $13.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s price target suggests a potential upside of 25.91% from the company’s current price.

FLG has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Royal Bank Of Canada lowered their price target on shares of Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, UBS Group assumed coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and an average price target of $15.71.

Flagstar Bank, National Association Trading Down 0.5%

FLG stock traded down $0.06 during midday trading on Monday, reaching $10.32. The stock had a trading volume of 1,514,683 shares, compared to its average volume of 5,075,715. The business has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $13.66. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 68.97 and a beta of 1.05. Flagstar Bank, National Association has a twelve month low of $10.30 and a twelve month high of $15.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.53.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The business had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, research analysts expect that Flagstar Bank, National Association will post 0.28 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its board has authorized a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of FLG. IFP Advisors Inc increased its stake in Flagstar Bank, National Association by 114.0% during the second quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after purchasing an additional 1,605 shares during the period. Core Capital Management & Research inc. purchased a new stake in Flagstar Bank, National Association in the second quarter valued at approximately $50,000. Signature Equity Partners LLC acquired a new stake in Flagstar Bank, National Association during the 1st quarter worth approximately $74,000. Nykredit A S purchased a new position in Flagstar Bank, National Association during the 2nd quarter worth $153,000. Finally, HB Wealth Management LLC grew its holdings in Flagstar Bank, National Association by 16.5% during the first quarter. HB Wealth Management LLC now owns 12,042 shares of the company’s stock worth $159,000 after acquiring an additional 1,704 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

About Flagstar Bank, National Association

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.