Flagstar Bank, National Association (NYSE:FLG) Stock Rating Upgraded by Wall Street Zen

Flagstar Bank, National Association (NYSE:FLG) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Piper Sandler boosted their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. UBS Group initiated coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 target price for the company. Royal Bank Of Canada lifted their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Barclays increased their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Stock Down 0.1%

Shares of NYSE FLG opened at $14.89 on Friday. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -67.69 and a beta of 1.01. 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 has a 52-week low of $10.57 and a 52-week high of $15.44. The business’s 50 day moving average is $14.42 and its two-hundred day moving average is $13.74.

Flagstar Bank, National Association (NYSE:FLG) last released 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. 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 for the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Institutional Trading of Flagstar Bank, National Association

Several hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in 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 during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Flagstar Bank, National Association during the 4th quarter worth about $53,216,000. Norges Bank purchased a new stake in Flagstar Bank, National Association during the 4th quarter worth about $44,046,000. JPMorgan Chase & Co. boosted its position in shares of Flagstar Bank, National Association by 310.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after acquiring an additional 2,894,424 shares in the last quarter. 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.