Keefe, Bruyette & Woods Upgrades Flagstar Bank, National Association (NYSE:FLG) to "Outperform"

Key Points

• Keefe, Bruyette & Woods upgraded Flagstar Bank (NYSE:FLG) from "market perform" to Outperform and raised its target price to $16 from $14, implying about a 30.88% upside.
• Several other firms have raised targets or given buy/overweight ratings, but the MarketBeat consensus remains a "Hold" with an average price target of $14.77 (analyst split: 6 Buy, 7 Hold, 1 Sell).
• FLG traded at $12.23 and the company beat quarterly EPS and revenue estimates, yet it still has negative profitability metrics (negative ROE and net margin), revenue down 10.9% YoY, and analysts expect roughly -$0.31 EPS for the year.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) was upgraded by stock analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a report released on Friday, MarketBeat reports. The firm currently has a $16.00 target price on the stock, up from their previous target price of $14.00. Keefe, Bruyette & Woods' price objective indicates a potential upside of 30.88% from the stock's current price.

Several other research analysts have also commented on the company. DA Davidson reiterated a "buy" rating and set a $16.00 price target on shares of Flagstar Bank, National Association in a report on Tuesday, February 24th. Citigroup upped their price objective on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a "buy" rating in a report on Tuesday, February 3rd. Cantor Fitzgerald raised 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 report on Friday, December 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a "sector perform" rating in a report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.77.

Flagstar Bank, National Association Price Performance

Shares of FLG stock traded down $0.02 during trading hours on Friday, reaching $12.23. The company had a trading volume of 768,484 shares, compared to its average volume of 5,341,041. Flagstar Bank, National Association has a 12-month low of $9.64 and a 12-month high of $14.53. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -23.85 and a beta of 1.08. The stock has a fifty day moving average of $13.21 and a 200-day moving average of $12.49.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The firm's revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) earnings per share. On average, equities analysts anticipate that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. DV Equities LLC purchased a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at approximately $25,000. Financial Freedom LLC purchased a new position in shares of Flagstar Bank, National Association during the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC acquired a new stake in Flagstar Bank, National Association in the 3rd quarter valued at approximately $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flagstar Bank, National Association in the 4th quarter valued at approximately $34,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Flagstar Bank, National Association in the fourth quarter valued at approximately $34,000. Hedge funds and other 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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