Piper Sandler Raises Flagstar Bank, National Association (NYSE:FLG) Price Target to $16.50

Key Points

• Piper Sandler raised its price target on Flagstar (NYSE:FLG) to $16.50 (from $16.00) and maintained an overweight rating, implying roughly a 17.1% upside from the current share price.
• Despite several firms lifting targets, the MarketBeat consensus remains a Hold with a $15.36 consensus price target and an analyst split of 8 Buys, 6 Holds and 1 Sell.
• Flagstar posted Q1 EPS of $0.04 (beating by $0.01) while revenue missed at $507M versus $556.7M; the stock traded around $14.10 and the company still shows negative ROE and net margin.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) had its price objective upped by equities research analysts at Piper Sandler from $16.00 to $16.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 17.06% from the stock's current price.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada raised their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a "sector perform" rating in a research report on Monday. Morgan Stanley raised their price objective 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. Truist Financial raised Flagstar Bank, National Association from a "hold" rating to a "buy" rating and raised their price objective for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. Wall Street Zen cut Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Finally, DA Davidson raised their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Flagstar Bank, National Association currently has a consensus rating of "Hold" and a consensus price target of $15.36.

Flagstar Bank, National Association Stock Up 0.5%

FLG stock traded up $0.07 during mid-day trading on Monday, reaching $14.10. The company had a trading volume of 2,967,529 shares, compared to its average volume of 5,323,563. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a 50 day simple moving average of $13.36 and a two-hundred day simple moving average of $12.75. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of -64.10 and a beta of 1.02. Flagstar Bank, National Association has a 52 week low of $10.38 and a 52 week high of $14.92.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its quarterly earnings data 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 return on equity of 0.11% and a negative net margin of 1.22%.The company had revenue of $507.00 million during the quarter, compared to analysts' expectations of $556.74 million. During the same period last year, the firm posted ($0.26) earnings per share. The business's revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Flagstar Bank, National Association will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Flagstar Bank, National Association

Hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in Flagstar Bank, National Association during the 4th quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new position in Flagstar Bank, National Association in the 3rd quarter valued at $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Flagstar Bank, National Association in the 4th quarter valued at $34,000. Litman Gregory Wealth Management LLC acquired a new position in Flagstar Bank, National Association in the 4th quarter valued at $34,000. Finally, Advisory Services Network LLC acquired a new position in Flagstar Bank, National Association in the 3rd quarter valued at $35,000. 67.88% of the stock is owned by institutional investors and hedge funds.

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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