Barclays Issues Positive Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its target price increased by investment analysts at Barclays from $16.00 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 14.29% from the company’s current price.

Other research analysts also recently issued reports about the company. TD Cowen upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research note on Monday. Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods raised shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $16.00 in a research note on Friday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Finally, DA Davidson lifted their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Flagstar Bank, National Association Stock Performance

Shares of FLG traded up $0.03 on Tuesday, reaching $14.87. The company’s stock had a trading volume of 1,042,447 shares, compared to its average volume of 5,119,099. The stock’s 50 day simple moving average is $14.27 and its two-hundred day simple moving average is $13.62. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $6.20 billion, a P/E ratio of -67.66 and a beta of 1.01. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.36.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share. Research analysts forecast that Flagstar Bank, National Association will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FLG. Geode Capital Management LLC raised its stake in Flagstar Bank, National Association by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock valued at $94,277,000 after purchasing an additional 467,053 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Flagstar Bank, National Association by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after buying an additional 569,003 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after buying an additional 6,096,512 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Flagstar Bank, National Association by 60.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock worth $58,243,000 after buying an additional 1,750,889 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at about $53,216,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.