Citigroup Forecasts Strong Price Appreciation for Flagstar Bank, National Association (NYSE:FLG) Stock

Flagstar Bank, National Association (NYSE:FLG) had its target price lifted by investment analysts at Citigroup from $17.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 19.01% from the stock’s current price.

Several other research analysts also recently commented on the stock. Piper Sandler raised their price objective on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock an “overweight” rating in a report on Monday, April 27th. Morgan Stanley increased their target price on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Tuesday, April 21st. Barclays lifted their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.75.

Flagstar Bank, National Association Stock Performance

Flagstar Bank, National Association stock traded up $0.04 during midday trading on Thursday, reaching $15.12. The stock had a trading volume of 3,279,519 shares, compared to its average volume of 5,057,945. Flagstar Bank, National Association has a 12 month low of $10.55 and a 12 month high of $15.36. The firm’s 50-day moving average price is $14.18 and its 200 day moving average price is $13.50. The firm has a market capitalization of $6.30 billion, a PE ratio of -68.70 and a beta of 1.02. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The firm had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. During the same quarter last year, the company earned ($0.26) earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts predict that Flagstar Bank, National Association will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. Geode Capital Management LLC increased its stake in Flagstar Bank, National Association by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after acquiring an additional 467,053 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after acquiring an additional 569,003 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of 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 purchasing an additional 6,096,512 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Flagstar Bank, National Association by 4.0% in the third quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock worth $72,669,000 after purchasing an additional 240,119 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock worth $58,243,000 after purchasing an additional 1,750,889 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.