Flagstar Bank, National Association (NYSE:FLG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

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

A number of other equities research analysts have also recently issued reports on FLG. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Morgan Stanley boosted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.50 to $17.00 in a research report on Tuesday, April 7th. Finally, Piper Sandler raised their target price on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.92.

Flagstar Bank, National Association Stock Performance

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

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, analysts predict that Flagstar Bank, National Association will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of FLG. AQR Capital Management LLC acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flagstar Bank, National Association during the first quarter valued at about $1,754,000. Goldman Sachs Group Inc. acquired a new stake in shares of Flagstar Bank, National Association during the first quarter valued at about $21,022,000. United Services Automobile Association bought a new stake in shares of Flagstar Bank, National Association during the first quarter worth about $219,000. Finally, Empowered Funds LLC bought a new stake in shares of Flagstar Bank, National Association during the first quarter worth about $516,000. Institutional investors own 67.88% of the company’s stock.

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.