Flagstar Bank, National Association (NYSE:FLG) Reaches New 12-Month High – Time to Buy?

Shares of Flagstar Bank, National Association (NYSE:FLG) reached a new 52-week high during trading on Friday . The stock traded as high as $14.60 and last traded at $14.5770, with a volume of 651419 shares. The stock had previously closed at $14.25.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FLG shares. 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. Citigroup boosted their price target on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.50 to $17.00 in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada boosted their target price on Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.18.

Flagstar Bank, National Association Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average is $13.33 and its 200-day moving average is $12.66. The company has a market cap of $6.08 billion, a PE ratio of -28.67 and a beta of 1.02.

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

Flagstar Bank, National Association Dividend Announcement

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

Hedge Funds Weigh In On Flagstar Bank, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flagstar Bank, National Association during the first quarter valued at $1,754,000. Goldman Sachs Group Inc. purchased a new position in Flagstar Bank, National Association in the first quarter worth about $21,022,000. United Services Automobile Association bought a new position in shares of Flagstar Bank, National Association in the first quarter worth approximately $219,000. Finally, Empowered Funds LLC bought a new stake in shares of Flagstar Bank, National Association during the first quarter valued at approximately $516,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

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.