Flagstar Bank, National Association (NYSE:FLG) Reaches New 1-Year High on Analyst Upgrade

Shares of Flagstar Bank, National Association (NYSE:FLG) hit a new 52-week high during mid-day trading on Thursday after Cantor Fitzgerald raised their price target on the stock from $16.00 to $17.00. Cantor Fitzgerald currently has an overweight rating on the stock. Flagstar Bank, National Association traded as high as $15.44 and last traded at $15.3810, with a volume of 834072 shares. The stock had previously closed at $15.01.

Other equities analysts also recently issued research reports about the company. Citigroup upped their price objective on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Barclays lifted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. UBS Group initiated coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

Institutional Investors Weigh In On Flagstar Bank, National Association

Several large investors have recently modified their holdings of FLG. DV Equities LLC purchased a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth approximately $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at approximately $34,000. Litman Gregory Wealth Management LLC purchased a new position in Flagstar Bank, National Association during the fourth quarter valued at approximately $34,000. Advisory Services Network LLC purchased a new position in Flagstar Bank, National Association during the third quarter valued at approximately $35,000. Finally, Clayton Financial Group LLC bought a new position in Flagstar Bank, National Association in the fourth quarter worth approximately $42,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Up 2.3%

The business’s 50 day moving average is $14.41 and its 200 day moving average is $13.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The company has a market cap of $6.40 billion, a P/E ratio of -69.80 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $556.74 million. During the same quarter last year, the firm earned ($0.26) EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is -18.18%.

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.