Citigroup Increases Flagstar Bank, National Association (NYSE:FLG) Price Target to $18.00

Flagstar Bank, National Association (NYSE:FLG) had its price objective boosted by equities research analysts at Citigroup from $17.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 19.01% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday, April 27th. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their price target for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Barclays upped their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.75.

Flagstar Bank, National Association Stock Up 0.3%

Shares of Flagstar Bank, National Association stock traded up $0.04 on Thursday, hitting $15.12. The company had a trading volume of 3,279,519 shares, compared to its average volume of 5,057,945. Flagstar Bank, National Association has a 1 year low of $10.55 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average of $14.18 and a 200-day moving average of $13.50. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -68.70 and a beta of 1.02.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $507.00 million for 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%.Flagstar Bank, National Association’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts forecast that Flagstar Bank, National Association will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DV Equities LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter worth about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at about $34,000. Litman Gregory Wealth Management LLC bought a new position in shares of Flagstar Bank, National Association during the 4th quarter valued at approximately $34,000. Advisory Services Network LLC bought a new position in shares of Flagstar Bank, National Association during the 3rd quarter valued at approximately $35,000. Finally, Clayton Financial Group LLC purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth approximately $42,000. 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.