Flagstar Bank, National Association (NYSE:FLG) Stock Rating Upgraded by Keefe, Bruyette & Woods

Flagstar Bank, National Association (NYSE:FLG) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Friday, Marketbeat reports. The brokerage currently has a $16.00 target price on the stock, up from their previous target price of $14.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 31.15% from the stock’s current price.

Several other brokerages also recently commented on FLG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Thursday, January 22nd. Wall Street Zen upgraded Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. DA Davidson reiterated a “buy” rating and set a $16.00 target price on shares of Flagstar Bank, National Association in a research report on Tuesday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley upped their price target on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.77.

Flagstar Bank, National Association Stock Performance

Shares of FLG opened at $12.20 on Friday. Flagstar Bank, National Association has a 12 month low of $9.64 and a 12 month high of $14.53. The business’s fifty day simple moving average is $13.21 and its two-hundred day simple moving average is $12.48. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -23.92 and a beta of 1.08. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.59.

Flagstar Bank, National Association (NYSE:FLG) last released its earnings results on Friday, January 30th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The firm had revenue of $548.00 million for the quarter, compared to analysts’ expectations of $533.00 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was down 10.9% on a year-over-year basis. Research analysts anticipate that Flagstar Bank, National Association will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Flagstar Bank, National Association

Institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares during the period. Alyeska Investment Group L.P. purchased a new position in Flagstar Bank, National Association during the 4th quarter valued at about $53,216,000. Norges Bank bought a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at about $44,046,000. JPMorgan Chase & Co. raised its holdings in shares of Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after purchasing an additional 2,894,424 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Flagstar Bank, National Association in the 2nd quarter worth approximately $23,059,000. 67.88% of the stock is currently owned by 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.