Flagstar Bank, National Association (NYSE:FLG) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Flagstar Bank hit a new 52-week high after Cantor Fitzgerald raised its price target to $17 from $16 and kept an overweight rating. The stock traded as high as $15.44.
• Several other analysts have also turned more bullish, with multiple firms lifting price targets to $17. MarketBeat says the stock now carries a Moderate Buy consensus and a $16.96 average price target.
• The company recently reported quarterly EPS of $0.04, topping estimates by $0.01, though revenue came in below expectations at $507 million. Flagstar also paid a quarterly dividend of $0.01 per share, equal to a 0.3% annual yield.

Shares of Flagstar Bank, National Association (NYSE:FLG - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Cantor Fitzgerald raised their price target on the stock from $16.00 to $17.00. Cantor Fitzgerald currently has an overweight rating on the stock. Flagstar Bank, National Association traded as high as $15.44 and last traded at $15.3810, with a volume of 834072 shares traded. The stock had previously closed at $15.01.

A number of other research firms also recently issued reports on FLG. Barclays boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. DA Davidson lifted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, July 1st. Royal Bank Of Canada increased their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.96.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Flagstar Bank, National Association by 310.8% during the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company's stock worth $44,187,000 after purchasing an additional 2,894,424 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Flagstar Bank, National Association by 268.4% in the third quarter. Polar Asset Management Partners Inc. now owns 345,953 shares of the company's stock valued at $3,996,000 after purchasing an additional 252,053 shares during the period. Sippican Capital Advisors raised its position in shares of Flagstar Bank, National Association by 100.1% in the fourth quarter. Sippican Capital Advisors now owns 148,805 shares of the company's stock valued at $1,873,000 after purchasing an additional 74,425 shares during the period. One William Street Capital Management L.P. lifted its stake in shares of Flagstar Bank, National Association by 95.1% during the 4th quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company's stock valued at $5,036,000 after buying an additional 195,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at approximately $44,046,000. Institutional investors own 67.88% of the company's stock.

Flagstar Bank, National Association Stock Performance

The company has a market capitalization of $6.40 billion, a P/E ratio of -69.84 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. The company's fifty day moving average is $14.39 and its 200 day moving average is $13.70.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The business had revenue of $507.00 million for the quarter, compared to analysts' expectations of $556.74 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Flagstar Bank, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association's payout ratio is currently -18.18%.

Flagstar Bank, National Association Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.