Flagstar Bank, National Association (NYSE:FLG – Get Free Report) had its price objective decreased by research analysts at Barclays from $17.00 to $15.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 29.59% from the stock’s current price.
A number of other research firms also recently issued reports on FLG. TD Cowen dropped their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, July 27th. DA Davidson reaffirmed a “buy” rating and set a $17.00 price target on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Cantor Fitzgerald increased their price objective 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 Wednesday, July 15th. Finally, Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a research note on Wednesday, September 2nd. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.38.
Read Our Latest Analysis on Flagstar Bank, National Association
Flagstar Bank, National Association Price Performance
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $512.00 million for the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) earnings per share. As a group, research analysts anticipate that Flagstar Bank, National Association will post 0.3 earnings per share for the current year.
Flagstar Bank, National Association announced that its board has initiated a share repurchase plan on Friday, July 24th that permits the company to buyback $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. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FLG. Interval Partners LP purchased a new stake in Flagstar Bank, National Association during the 4th quarter worth $11,632,000. Engineers Gate Manager LP purchased a new position in Flagstar Bank, National Association in the 2nd quarter valued at about $8,480,000. One William Street Capital Management L.P. boosted its position in Flagstar Bank, National Association by 95.1% in the 4th quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock valued at $5,036,000 after buying an additional 195,000 shares during the last quarter. Norges Bank acquired a new stake in shares of Flagstar Bank, National Association during the fourth quarter valued at about $44,046,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Flagstar Bank, National Association by 106.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock valued at $8,049,000 after acquiring an additional 315,691 shares in the last quarter. 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 the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.
Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.
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