Flagstar Bank, National Association (NYSE:FLG) Hits New 12-Month High – What’s Next?
by Sarita Garza · The Markets DailyFlagstar Bank, National Association (NYSE:FLG – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $14.54 and last traded at $14.5250, with a volume of 632766 shares changing hands. The stock had previously closed at $14.27.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on FLG. Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Cantor Fitzgerald upped their price target on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Barclays raised their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of Flagstar Bank, National Association from $13.50 to $14.00 and gave the stock a “market perform” rating in a report on Monday, February 2nd. Finally, DA Davidson increased their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.46.
Read Our Latest Report on Flagstar Bank, National Association
Flagstar Bank, National Association Trading Down 1.0%
The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of -27.39 and a beta of 1.10. The company has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $12.26.
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business 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 net margin of 3.68% and a negative return on equity of 1.60%. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) earnings per share. On average, research analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current fiscal year.
Institutional Trading of Flagstar Bank, National Association
Several hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares in the last quarter. Norges Bank acquired a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at about $44,046,000. JPMorgan Chase & Co. increased its holdings in shares of Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after purchasing an additional 2,894,424 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Flagstar Bank, National Association during the second quarter worth approximately $23,059,000. Finally, Cerity Partners LLC acquired a new stake in shares of Flagstar Bank, National Association during the second quarter worth approximately $19,957,000. Institutional investors and hedge funds 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.