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

Flagstar Bank, National Association (NYSE:FLG – Get Free Report) had its target price reduced by analysts at Morgan Stanley from $17.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 34.96% from the stock’s previous close.

Several other brokerages have also weighed in on FLG. DA Davidson reaffirmed a “buy” rating and issued a $17.00 target price on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Weiss Ratings lowered shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 18th. Barclays 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 report on Tuesday, July 7th. Finally, Raymond James Financial assumed coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating on the stock. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average price target of $16.88.

Read Our Latest Analysis on Flagstar Bank, National Association

Flagstar Bank, National Association Stock Down 1.5%

Shares of Flagstar Bank, National Association stock opened at $11.86 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The business’s 50 day simple moving average is $13.50 and its 200-day simple moving average is $13.87. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 395.17 and a beta of 0.99. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The company had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same period last year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts forecast that Flagstar Bank, National Association will post 0.32 earnings per share for the current year.

Flagstar Bank, National Association announced that its Board of Directors has authorized a stock repurchase plan on Friday, July 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Interval Partners LP bought a new stake in shares of Flagstar Bank, National Association during the fourth quarter valued at about $11,632,000. One William Street Capital Management L.P. lifted its holdings in Flagstar Bank, National Association by 95.1% in the fourth quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock worth $5,036,000 after purchasing an additional 195,000 shares during the period. Engineers Gate Manager LP bought a new position in Flagstar Bank, National Association in the 2nd quarter valued at about $8,480,000. Norges Bank bought a new position in Flagstar Bank, National Association in the 4th quarter valued at about $44,046,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in Flagstar Bank, National Association in the 4th quarter valued at about $12,590,000. Institutional investors own 67.88% of the company’s stock.

About Flagstar Bank, National Association

(Get Free Report)

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.

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Analyst Recommendations for Flagstar Bank, National Association (NYSE:FLG)

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