Flagstar Bank, National Association (NYSE:FLG) Hits New 12-Month High – What’s Next?

Flagstar Bank, National Association (NYSE:FLG)’s share price hit a new 52-week high on Friday . The company 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.

Wall Street Analysts Forecast Growth

FLG has been the topic of a number of recent research reports. Cantor Fitzgerald boosted their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Royal Bank Of Canada boosted their target price on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their price target for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Piper Sandler began coverage on Flagstar Bank, National Association in a research note on Monday, March 16th. They set an “overweight” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.18.

Flagstar Bank, National Association Stock Up 3.8%

The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -28.99 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. The firm’s fifty day moving average is $13.32 and its 200-day moving average is $12.63.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $548.00 million for 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 company’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.41) earnings per share. On average, sell-side analysts predict that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

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

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors have recently modified their holdings of FLG. JPMorgan Chase & Co. lifted its holdings in shares of 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 worth $44,187,000 after purchasing an additional 2,894,424 shares during the last quarter. Old West Investment Management LLC acquired a new stake in Flagstar Bank, National Association in the third quarter worth $3,124,000. TD Asset Management Inc lifted its stake in Flagstar Bank, National Association by 134.3% in the third quarter. TD Asset Management Inc now owns 155,084 shares of the company’s stock valued at $1,791,000 after buying an additional 88,890 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Flagstar Bank, National Association by 28.0% in the third quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock valued at $2,131,000 after buying an additional 40,374 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Flagstar Bank, National Association by 268.4% during the third quarter. Polar Asset Management Partners Inc. now owns 345,953 shares of the company’s stock valued at $3,996,000 after acquiring an additional 252,053 shares during the period. Institutional investors own 67.88% of the company’s stock.

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.