Flagstar Bank, National Association (NYSE:FLG) Hits New 52-Week High - Here's What Happened

Key Points

• Shares hit a new 52-week high, trading as high as $14.92 and last at $14.125 on a volume of 3,665,415 shares.
• Analyst sentiment is a “Moderate Buy” with a consensus target of $15.18 (ratings include 1 Strong Buy, 7 Buy, 6 Hold, 1 Sell), and several firms recently raised or set targets around $15–$16.50.
• Flagstar reported $0.04 EPS (in line with estimates) but revenue of $507M fell short of the $556.74M estimate; the company shows a negative ROE (-1.6%) and net margin (-3.68%), declared a $0.01 quarterly dividend, and has 67.88% institutional ownership.

Shares of Flagstar Bank, National Association (NYSE:FLG - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $14.92 and last traded at $14.1250, with a volume of 3665415 shares trading hands. The stock had previously closed at $14.35.

Analysts Set New Price Targets

FLG has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research report on Tuesday. DA Davidson reaffirmed a "buy" rating and set a $16.00 price objective on shares of Flagstar Bank, National Association in a research report on Tuesday, February 24th. Citigroup raised their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, February 3rd. Piper Sandler initiated coverage on Flagstar Bank, National Association in a research report on Monday, March 16th. They set an "overweight" rating and a $16.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a "neutral" rating in a research report on Monday, February 2nd. One equities 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.18.

Flagstar Bank, National Association Trading Down 1.7%

The firm has a market cap of $5.87 billion, a P/E ratio of -27.70 and a beta of 1.02. The stock has a fifty day simple moving average of $13.37 and a 200 day simple moving average of $12.72. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.91 and a current ratio of 0.92.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The company had revenue of $507.00 million during the quarter, compared to analyst estimates of $556.74 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. Flagstar Bank, National Association's revenue was up 1.6% compared to the same quarter last year. On average, research analysts expect that Flagstar Bank, National Association will post 0.53 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Saturday, March 7th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Bank, National Association's payout ratio is presently -7.84%.

Institutional Trading of Flagstar Bank, National Association

Several large investors have recently modified their holdings of FLG. AQR Capital Management LLC bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth $1,754,000. Goldman Sachs Group Inc. bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth $21,022,000. United Services Automobile Association bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth $219,000. Finally, Empowered Funds LLC purchased a new position in Flagstar Bank, National Association during the first quarter valued at $516,000. Institutional investors own 67.88% of the company's stock.

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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