Piper Sandler Forecasts Strong Price Appreciation for Flagstar Bank, National Association (NYSE:FLG) Stock

Flagstar Bank, National Association (NYSE:FLG) had its target price lifted by equities research analysts at Piper Sandler from $16.50 to $17.50 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 15.78% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Citigroup raised their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley raised their price objective on Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. DA Davidson boosted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and raised their price target for the company from $14.00 to $16.00 in a report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Flagstar Bank, National Association presently has a consensus rating of “Hold” and an average target price of $15.83.

Flagstar Bank, National Association Stock Down 0.2%

Shares of NYSE:FLG traded down $0.04 during midday trading on Friday, hitting $15.12. The stock had a trading volume of 542,480 shares, compared to its average volume of 5,040,304. The company has a market cap of $6.30 billion, a P/E ratio of -68.70 and a beta of 1.02. Flagstar Bank, National Association has a 12 month low of $10.55 and a 12 month high of $15.36. The business’s 50-day simple moving average is $14.20 and its 200-day simple moving average is $13.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47.

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

Institutional Investors Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the business. DV Equities LLC bought a new stake in shares of Flagstar Bank, National Association in the fourth quarter valued at approximately $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Flagstar Bank, National Association in the 4th quarter valued at $34,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at $34,000. Advisory Services Network LLC bought a new stake in shares of Flagstar Bank, National Association during the 3rd quarter valued at $35,000. Finally, Clayton Financial Group LLC acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth $42,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Bank, National Association Company Profile

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.