Flagstar Bank, National Association (NYSE:FLG) Given New $16.00 Price Target at Barclays

Flagstar Bank, National Association (NYSE:FLG) had its price target lifted by Barclays from $15.00 to $16.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

FLG has been the subject of several other research reports. Morgan Stanley boosted their price objective on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Piper Sandler began coverage on Flagstar Bank, National Association in a research report on Monday, March 16th. They set an “overweight” rating and a $16.00 price objective for the company. Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.50 to $17.00 in a research report on Tuesday. Citigroup boosted their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.18.

Flagstar Bank, National Association Price Performance

Shares of NYSE:FLG opened at $13.65 on Tuesday. Flagstar Bank, National Association has a fifty-two week low of $9.64 and a fifty-two week high of $14.53. The business has a 50-day moving average of $13.25 and a two-hundred day moving average of $12.52. The stock has a market capitalization of $5.68 billion, a P/E ratio of -26.76 and a beta of 1.02. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.92 and a quick ratio of 0.91.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, topping 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 company had revenue of $548.00 million during the quarter, compared to analysts’ expectations of $533.00 million. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Saturday, March 7th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, March 6th. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently -7.84%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in 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 buying an additional 2,894,424 shares during the last quarter. Old West Investment Management LLC acquired a new position in shares of Flagstar Bank, National Association in the 3rd quarter valued at $3,124,000. TD Asset Management Inc lifted its stake in shares of Flagstar Bank, National Association by 134.3% in the 3rd quarter. TD Asset Management Inc now owns 155,084 shares of the company’s stock valued at $1,791,000 after purchasing an additional 88,890 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Flagstar Bank, National Association by 28.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock valued at $2,131,000 after purchasing an additional 40,374 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Flagstar Bank, National Association in the 2nd quarter valued at $1,020,000. 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.