Cantor Fitzgerald Has Lowered Expectations for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Key Points

• Cantor Fitzgerald cut its price target for Flagstar Bank from $17 to $16 while maintaining an “overweight” rating. The revised target still implies approximately 42.8% upside from the $11.20 share price.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $15.96.
• Flagstar missed latest quarterly estimates, reporting $0.05 in EPS versus $0.06 expected and $512 million in revenue versus $539.34 million projected. The company also authorized a $250 million share repurchase plan, covering up to 4.1% of outstanding shares.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its price objective dropped by analysts at Cantor Fitzgerald from $17.00 to $16.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 42.81% from the company's current price.

Several other analysts have also recently commented on FLG. Royal Bank Of Canada lowered their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a "sector perform" rating for the company in a report on Friday, October 9th. Piper Sandler increased their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an "overweight" rating in a report on Friday, June 26th. Morgan Stanley decreased their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, September 28th. DA Davidson reissued a "buy" rating and issued a $17.00 target price on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Finally, TD Cowen lowered their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.96.

Flagstar Bank, National Association Price Performance

FLG stock opened at $11.20 on Wednesday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 141.38 and a beta of 1.05. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The stock's fifty day simple moving average is $12.95 and its 200-day simple moving average is $13.79.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts expect that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association declared that its Board of Directors has authorized a share buyback plan on Friday, July 24th that permits the company to buy back $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors have recently added to or reduced their stakes in FLG. Farther Finance Advisors LLC lifted its stake in shares of Flagstar Bank, National Association by 26.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company's stock valued at $248,000 after purchasing an additional 4,376 shares in the last quarter. Core Capital Management & Research inc. purchased a new stake in shares of Flagstar Bank, National Association during the 2nd quarter worth about $50,000. Sequoia Financial Advisors LLC increased its position in Flagstar Bank, National Association by 166.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 33,438 shares of the company's stock worth $500,000 after purchasing an additional 20,893 shares in the last quarter. Tidal Investments LLC acquired a new stake in Flagstar Bank, National Association during the 2nd quarter worth approximately $207,000. Finally, Engineers Gate Manager LP acquired a new stake in Flagstar Bank, National Association during the 2nd quarter worth approximately $8,480,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

About Flagstar Bank, National Association

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc NYSE: FLG. The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.

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