Cantor Fitzgerald Increases Flagstar Bank, National Association (NYSE:FLG) Price Target to $17.00

Flagstar Bank, National Association (NYSE:FLG) had its price target boosted by Cantor Fitzgerald from $16.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 10.71% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler upped their price target on Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Royal Bank Of Canada lifted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, April 27th. Morgan Stanley boosted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. DA Davidson increased their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.96.

Flagstar Bank, National Association Price Performance

Shares of NYSE FLG opened at $15.36 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.40 billion, a PE ratio of -69.80 and a beta of 1.01. The company has a fifty day moving average price of $14.41 and a 200 day moving average price of $13.72. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The business had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. During the same period last year, the company earned ($0.26) earnings per share. Flagstar Bank, National Association’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts predict that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in Flagstar Bank, National Association by 1,130.1% during 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 in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at about $53,216,000. Norges Bank acquired a new position in shares of Flagstar Bank, National Association during the 4th quarter worth about $44,046,000. JPMorgan Chase & Co. increased its stake in shares of Flagstar Bank, National Association by 310.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after purchasing an additional 2,894,424 shares during the last quarter. Finally, North Reef Capital Management LP acquired a new position in shares of Flagstar Bank, National Association during the 1st quarter worth about $36,744,000. 67.88% of the stock is owned by institutional investors.

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.