Flagstar Bank, National Association (NYSE:FLG) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its target on Flagstar (NYSE:FLG) from $15 to $16, implying about a 14.6% upside, and several other firms have also bumped targets to $16, leaving a MarketBeat average target near $15.32 and a consensus of "Moderate Buy".
• Recent results: FLG traded at $13.97 (down ~0.5%) with a $5.81B market cap; the company beat EPS expectations ($0.04 vs. $0.03) but missed revenue forecasts ($507M vs. $556.7M) and reported a negative net margin and return on equity.
• Analyst and ownership snapshot: analyst ratings split with 1 Strong Buy, 7 Buy, 6 Hold and 1 Sell, and institutional investors hold about 67.88% of the shares.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from $15.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 14.57% from the company's previous close.

Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised shares of Flagstar Bank, National Association from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $14.00 to $16.00 in a research report on Friday, March 13th. Barclays upped their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Piper Sandler started coverage on shares of Flagstar Bank, National Association in a research note on Monday, March 16th. They set an "overweight" rating and a $16.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association has an average rating of "Moderate Buy" and an average target price of $15.32.

Flagstar Bank, National Association Stock Down 0.5%

NYSE:FLG traded down $0.07 during trading hours on Monday, reaching $13.97. The company's stock had a trading volume of 1,549,900 shares, compared to its average volume of 5,302,502. The company has a market cap of $5.81 billion, a price-to-earnings ratio of -63.48 and a beta of 1.02. Flagstar Bank, National Association has a one year low of $10.38 and a one year high of $14.92. The business's 50-day moving average is $13.36 and its 200-day moving average is $12.75. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.00 and a quick ratio of 0.99.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) earnings per share. Equities research analysts predict that Flagstar Bank, National Association will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLG. DV Equities LLC bought a new position in Flagstar Bank, National Association during the fourth quarter worth $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Flagstar Bank, National Association in the third quarter valued at about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Flagstar Bank, National Association in the fourth quarter valued at about $34,000. Litman Gregory Wealth Management LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter worth about $34,000. Finally, Advisory Services Network LLC purchased a new position in Flagstar Bank, National Association in the third quarter valued at approximately $35,000. 67.88% of the stock is owned by institutional investors.

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.

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