TD Cowen Issues Pessimistic Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its target price lowered by equities research analysts at TD Cowen from $16.00 to $13.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target would indicate a potential upside of 26.27% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada dropped their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating for the company in a research report on Friday, October 9th. Barclays cut their target price on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. reduced their price target on Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday. Truist Financial reduced their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wall Street Zen cut shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Flagstar Bank, National Association Price Performance

Shares of NYSE:FLG traded down $0.09 during midday trading on Monday, hitting $10.29. The company’s stock had a trading volume of 2,824,381 shares, compared to its average volume of 5,081,339. The company has a market cap of $4.27 billion, a P/E ratio of 68.63 and a beta of 1.05. Flagstar Bank, National Association has a 12-month low of $10.28 and a 12-month high of $15.44. The business’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $13.66. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $530.00 million for the quarter, compared to analysts’ expectations 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 in the prior year, the company posted ($0.07) EPS. On average, analysts forecast that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association announced that its board has approved 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 buy up to 4.1% of its stock through open market purchases. Share buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Flagstar Bank, National Association by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after acquiring an additional 569,003 shares during the last quarter. North Reef Capital Management LP purchased a new stake in Flagstar Bank, National Association in the first quarter valued at $36,744,000. Polar Asset Management Partners Inc. lifted its stake in shares of Flagstar Bank, National Association by 36.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after purchasing an additional 437,939 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Flagstar Bank, National Association by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 673,282 shares of the company’s stock valued at $8,867,000 after purchasing an additional 24,659 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Flagstar Bank, National Association in the 2nd quarter valued at $8,480,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.