Flagstar Bank, National Association (NYSE:FLG) Upgraded to Buy at Truist Financial

Truist Financial upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a buy rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has $17.00 price objective on the stock, up from their previous price objective of $13.50.

Several other brokerages have also recently weighed in on FLG. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Thursday, January 22nd. Cantor Fitzgerald raised their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. DA Davidson reaffirmed a “buy” rating and issued a $16.00 target price on shares of Flagstar Bank, National Association in a research report on Tuesday, February 24th. Citigroup raised their target price on shares of 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, Barclays raised their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and a consensus price target of $15.18.

Flagstar Bank, National Association Trading Up 0.6%

Shares of FLG opened at $13.65 on Tuesday. 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 quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $13.25 and a two-hundred day simple moving average of $12.52. Flagstar Bank, National Association has a twelve month low of $9.64 and a twelve month high of $14.53.

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, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $548.00 million during the quarter, compared to analysts’ expectations 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%. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) EPS. On average, research analysts anticipate that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. World Investment Advisors lifted its position in Flagstar Bank, National Association by 204.2% during the 4th quarter. World Investment Advisors now owns 43,881 shares of the company’s stock valued at $552,000 after acquiring an additional 29,458 shares during the period. Virtu Financial LLC purchased a new position in Flagstar Bank, National Association during the 4th quarter valued at about $324,000. Invesco Ltd. lifted its position in Flagstar Bank, National Association by 16.3% during the 4th quarter. Invesco Ltd. now owns 967,095 shares of the company’s stock valued at $12,176,000 after acquiring an additional 135,890 shares during the period. Corient Private Wealth LLC lifted its position in Flagstar Bank, National Association by 4.5% during the 4th quarter. Corient Private Wealth LLC now owns 49,175 shares of the company’s stock valued at $593,000 after acquiring an additional 2,136 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in Flagstar Bank, National Association during the 4th quarter valued at about $3,953,000. 67.88% of the stock is owned by hedge funds and other 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.