Flagstar Financial price target raised to $13.50 from $12 at Truist

Truist analyst David Smith raised the firm’s price target on Flagstar Financial (FLG) to $13.50 from $12 and keeps a Hold rating on the shares as part of a broader research note on Regional Banks. Both Valley National and Flagstar are NYC-area banks with commercial real estate-heavy loan books trying to transform to a more balanced commercial mix, and both trade at a discount to peers, the analyst tells investors in a research note.