Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Flagstar’s price target from $14.00 to $11.50 while maintaining a “neutral” rating, implying 11.7% upside from the stock’s $10.29 price.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $15.25.
• Flagstar’s latest quarter fell short of expectations, reporting $0.01 in EPS versus $0.07 forecast and $530 million in revenue versus $545.12 million expected; the company also authorized a $250 million share-repurchase program.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $14.00 to $11.50 in a report released on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 11.70% from the company's current price.

FLG has been the subject of a number of other reports. DA Davidson reiterated a "buy" rating and set a $17.00 price target on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Morgan Stanley dropped their price objective on Flagstar Bank, National Association from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, September 28th. Truist Financial dropped their price objective on Flagstar Bank, National Association from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday. Barclays cut their target price on Flagstar Bank, National Association from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Weiss Ratings raised Flagstar Bank, National Association from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of "Moderate Buy" and an average price target of $15.25.

Flagstar Bank, National Association Trading Down 0.8%

Shares of NYSE:FLG traded down $0.09 during trading on Monday, reaching $10.29. The stock had a trading volume of 2,824,381 shares, compared to its average volume of 5,081,339. Flagstar Bank, National Association has a 52 week low of $10.28 and a 52 week high of $15.44. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. The firm's fifty day moving average is $12.45 and its 200 day moving average is $13.66. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 68.63 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last announced its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $530.00 million for the quarter, compared to the consensus estimate of $545.12 million. Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. During the same period in the prior year, the business earned ($0.07) EPS. As a group, equities analysts forecast that Flagstar Bank, National Association will post 0.28 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its board has authorized a stock repurchase plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Share repurchase plans are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

Several large investors have recently made changes to their positions in the company. North Reef Capital Management LP purchased a new position in Flagstar Bank, National Association in the first quarter worth $36,744,000. Dimensional Fund Advisors LP grew its stake in Flagstar Bank, National Association by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company's stock valued at $88,645,000 after purchasing an additional 569,003 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Flagstar Bank, National Association during the 2nd quarter valued at $8,480,000. Polar Asset Management Partners Inc. increased its position in shares of Flagstar Bank, National Association by 36.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company's stock valued at $21,420,000 after purchasing an additional 437,939 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Flagstar Bank, National Association by 106.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company's stock valued at $8,049,000 after purchasing an additional 315,691 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar's lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.

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