Cantor Fitzgerald Issues Positive Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on Flagstar Bank, National Association (NYSE: FLG) from $16 to $17 and kept an overweight rating, implying about 11.95% upside from the prior close.
• Analyst sentiment is mostly positive overall, with nine Buy ratings, three Hold ratings, and one Sell rating; the stock’s average analyst target is $16.96 and the consensus rating is Moderate Buy.
• Flagstar’s shares recently traded at $15.19 after its latest earnings beat EPS estimates, though revenue came in below forecasts; the company also has 67.88% institutional ownership.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its price objective hoisted by equities research analysts at Cantor Fitzgerald from $16.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 11.95% from the company's previous close.

A number of other analysts have also issued reports on FLG. Wall Street Zen lowered Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Piper Sandler lifted their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an "overweight" rating in a research note on Friday, June 26th. Royal Bank Of Canada boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Monday, April 27th. Truist Financial upgraded shares of Flagstar Bank, National Association from a "hold" rating to a "buy" rating and lifted their target price for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Finally, UBS Group initiated coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They issued a "buy" rating and a $18.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.96.

Flagstar Bank, National Association Price Performance

FLG stock traded up $0.23 on Wednesday, reaching $15.19. The company had a trading volume of 473,889 shares, compared to its average volume of 5,028,238. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90. The company's fifty day moving average is $14.38 and its 200 day moving average is $13.69. The company has a market cap of $6.33 billion, a P/E ratio of -69.15 and a beta of 1.01. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.36.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) EPS. On average, research analysts forecast that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DV Equities LLC bought a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth $34,000. Litman Gregory Wealth Management LLC bought a new position in Flagstar Bank, National Association in the 4th quarter valued at about $34,000. Advisory Services Network LLC acquired a new position in Flagstar Bank, National Association during the third quarter valued at approximately $35,000. Finally, Clayton Financial Group LLC acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at approximately $42,000. 67.88% of the stock is owned by 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.

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