Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $17.00 at JPMorgan Chase & Co.

Flagstar Bank, National Association (NYSE:FLG) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $15.50 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.75% from the company’s current price.

A number of other analysts have also recently issued reports on FLG. Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $14.00 to $16.00 in a research note on Friday, March 13th. Piper Sandler lifted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research note on Friday, June 26th. Truist Financial upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their price target for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association has an average rating of “Hold” and an average target price of $15.92.

Flagstar Bank, National Association Trading Up 0.9%

Flagstar Bank, National Association stock traded up $0.14 during mid-day trading on Wednesday, hitting $15.08. 164,466 shares of the company’s stock were exchanged, compared to its average volume of 5,124,054. The firm has a market capitalization of $6.28 billion, a P/E ratio of -68.50 and a beta of 1.02. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.36. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The company’s 50 day simple moving average is $14.25 and its 200-day simple moving average is $13.57.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The firm had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Flagstar Bank, National Association will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its stake in shares of Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after buying an additional 6,096,512 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Flagstar Bank, National Association in the fourth quarter valued at $53,216,000. Norges Bank acquired a new stake in Flagstar Bank, National Association in the fourth quarter valued at $44,046,000. JPMorgan Chase & Co. grew its position in shares of Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after acquiring an additional 2,894,424 shares during the period. Finally, North Reef Capital Management LP acquired a new position in shares of Flagstar Bank, National Association during the 1st quarter worth about $36,744,000. Institutional investors and hedge funds 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.