DA Davidson Raises Flagstar Bank, National Association (NYSE:FLG) Price Target to $17.00

Key Points

• DA Davidson raised its price target to $17.00 and maintains a "buy" rating, implying about a 20.9% upside from the stock's current price.
• The stock has a mixed analyst picture but a consensus of "Moderate Buy" with an average price target of $15.25, reflecting a range of buy, hold and a few sell ratings.
• Flagstar reported $0.04 EPS for the quarter (beating estimates) but revenue of $507 million missed forecasts, and the company still shows a negative return on equity and net margin.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its price target increased by stock analysts at DA Davidson from $16.00 to $17.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 20.92% from the stock's current price.

Several other equities research analysts also recently commented on the stock. Truist Financial upgraded shares of Flagstar Bank, National Association from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $13.50 to $17.00 in a research note on Tuesday, April 7th. Morgan Stanley lifted their price target on Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Citigroup upped their price target on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen lowered Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $15.25.

Flagstar Bank, National Association Trading Up 0.2%

Shares of NYSE FLG opened at $14.06 on Monday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -63.90 and a beta of 1.02. Flagstar Bank, National Association has a fifty-two week low of $10.38 and a fifty-two week high of $14.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.99 and a current ratio of 1.00. The business's 50 day moving average price is $13.36 and its 200-day moving average price is $12.75.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last issued its earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $507.00 million during the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.Flagstar Bank, National Association's revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) EPS. On average, sell-side analysts expect that Flagstar Bank, National Association will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of large investors have recently modified their holdings of FLG. Geode Capital Management LLC grew its stake in shares of Flagstar Bank, National Association by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company's stock worth $94,277,000 after purchasing an additional 467,053 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company's stock worth $70,341,000 after acquiring an additional 6,096,512 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Flagstar Bank, National Association by 4.0% during 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. Dimensional Fund Advisors LP boosted its holdings in Flagstar Bank, National Association by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company's stock valued at $77,589,000 after purchasing an additional 316,612 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Flagstar Bank, National Association by 60.9% during 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 in the last quarter. 67.88% of the stock is 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.

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