Truist Financial Has Lowered Expectations for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its target price decreased by equities researchers at Truist Financial from $15.00 to $13.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial‘s price target would indicate a potential upside of 25.91% from the stock’s previous close.

FLG has been the subject of several other reports. Royal Bank Of Canada reduced their price objective on Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, October 9th. TD Cowen cut their price target on Flagstar Bank, National Association from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, October 5th. UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Cantor Fitzgerald lowered their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Finally, Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock traded down $0.06 on Monday, hitting $10.32. 1,514,683 shares of the stock traded hands, compared to its average volume of 5,075,715. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average is $12.45 and its 200 day moving average is $13.66. The company has a market capitalization of $4.29 billion, a PE ratio of 68.97 and a beta of 1.05. Flagstar Bank, National Association has a 1-year low of $10.30 and a 1-year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $530.00 million for the quarter, compared to the consensus estimate of $545.12 million. Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. During the same period last year, the firm posted ($0.07) EPS. On average, equities research analysts predict that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association announced that its board has authorized a stock buyback plan on Friday, July 24th that permits the company to buy back $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Share buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Flagstar Bank, National Association by 114.0% in the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock valued at $45,000 after acquiring an additional 1,605 shares in the last quarter. Core Capital Management & Research inc. bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at approximately $50,000. Signature Equity Partners LLC purchased a new position in shares of Flagstar Bank, National Association during the first quarter valued at approximately $74,000. Nykredit A S bought a new stake in Flagstar Bank, National Association during the second quarter worth $153,000. Finally, HB Wealth Management LLC grew its stake in shares of Flagstar Bank, National Association by 16.5% in the 1st quarter. HB Wealth Management LLC now owns 12,042 shares of the company’s stock worth $159,000 after acquiring an additional 1,704 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.