Morgan Stanley Raises Flagstar Bank, National Association (NYSE:FLG) Price Target to $16.00

Flagstar Bank, National Association (NYSE:FLG) had its price target upped by equities research analysts at Morgan Stanley from $14.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 24.03% from the stock’s current price.

Several other brokerages have also weighed in on FLG. Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Royal Bank Of Canada upped their price target on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Flagstar Bank, National Association in a research note on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.62.

Flagstar Bank, National Association Trading Up 0.2%

Flagstar Bank, National Association stock opened at $12.90 on Monday. Flagstar Bank, National Association has a 12-month low of $9.64 and a 12-month high of $14.53. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $5.37 billion, a PE ratio of -25.29 and a beta of 1.08. The firm has a 50 day simple moving average of $13.23 and a 200-day simple moving average of $12.47.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $548.00 million for the quarter, compared to analysts’ expectations of $533.00 million. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.41) earnings per share. As a group, equities research analysts expect that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FLG. Geode Capital Management LLC lifted its position in shares of Flagstar Bank, National Association by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock valued at $94,277,000 after acquiring an additional 467,053 shares in the last quarter. Alliancebernstein L.P. raised its stake in Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after purchasing an additional 6,096,512 shares during the period. Victory Capital Management Inc. raised its stake in Flagstar Bank, National Association by 4.0% during the 3rd quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock valued at $72,669,000 after purchasing an additional 240,119 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Flagstar Bank, National Association by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company’s stock valued at $77,589,000 after purchasing an additional 316,612 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock worth $58,243,000 after buying an additional 1,750,889 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

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.