Flagstar Bank, National Association (NYSE:FLG) Reaches New 52-Week High – Time to Buy?

Flagstar Bank, National Association (NYSE:FLG) hit a new 52-week high during trading on Monday . The company traded as high as $14.54 and last traded at $14.5250, with a volume of 632766 shares changing hands. The stock had previously closed at $14.27.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FLG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their price target on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Citigroup boosted their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. DA Davidson raised their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Flagstar Bank, National Association from $13.50 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of “Hold” and a consensus price target of $14.46.

Flagstar Bank, National Association Stock Down 0.4%

The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $5.91 billion, a PE ratio of -27.86 and a beta of 1.10. The business has a 50-day moving average price of $12.98 and a 200-day moving average price of $12.22.

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

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLG. Allworth Financial LP grew its holdings in shares of Flagstar Bank, National Association by 8.6% during the 4th quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock worth $138,000 after purchasing an additional 869 shares during the period. Balefire LLC lifted its position in Flagstar Bank, National Association by 1.6% in the third quarter. Balefire LLC now owns 58,703 shares of the company’s stock valued at $678,000 after buying an additional 909 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Flagstar Bank, National Association by 6.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock worth $185,000 after buying an additional 936 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Flagstar Bank, National Association by 1.7% during the second quarter. Rockefeller Capital Management L.P. now owns 61,131 shares of the company’s stock valued at $648,000 after acquiring an additional 1,010 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Flagstar Bank, National Association by 6.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,106 shares of the company’s stock valued at $241,000 after acquiring an additional 1,127 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Flagstar Bank, National Association

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.