Flagstar Bank, National Association (NYSE:FLG – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.
Several other equities analysts have also recently weighed in on FLG. DA Davidson restated a “buy” rating and set a $17.00 price objective on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Citigroup upped their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Piper Sandler increased their target price on shares of 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 began coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and an average price target of $16.79.
View Our Latest Analysis on FLG
Flagstar Bank, National Association Stock Performance
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. Equities analysts anticipate that Flagstar Bank, National Association will post 0.33 earnings per share for the current fiscal year.
Flagstar Bank, National Association declared that its board has approved a stock repurchase plan on Friday, July 24th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
Institutional Trading of Flagstar Bank, National Association
A number of large investors have recently bought and sold shares of the company. UMB Bank n.a. grew its stake in shares of Flagstar Bank, National Association by 23.6% during the 4th quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock worth $47,000 after acquiring an additional 719 shares during the period. Allworth Financial LP raised its stake in Flagstar Bank, National Association by 8.6% in the 4th quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock valued at $138,000 after acquiring an additional 869 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Flagstar Bank, National Association by 6.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock valued at $185,000 after purchasing an additional 936 shares during the last quarter. Collar Capital Management LLC lifted its holdings in Flagstar Bank, National Association by 0.9% during the fourth quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock valued at $1,473,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Flagstar Bank, National Association by 4.0% during the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after purchasing an additional 1,117 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.
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.
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