Flagstar Bancorp, Inc. (NYSE:FBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $38.00 price objective on the savings and loans company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.89% from the stock’s previous close.
According to Zacks, “Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB, a federally chartered stock savings bank. Through its retail banking centers and e-commerce distribution channels, Flagstar attracts deposits from the general public. The institution utilizes these deposits, along with other funds garnered from the secondary market, to originate or acquire loans on a nationwide basis. “
A number of other brokerages have also commented on FBC. ValuEngine upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. assumed coverage on shares of Flagstar Bancorp in a report on Thursday, August 31st. They set an “outperform” rating and a $36.00 price objective on the stock. FBR & Co reaffirmed an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Flagstar Bancorp in a report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $35.00 price objective on shares of Flagstar Bancorp in a report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $35.80.
Shares of Flagstar Bancorp (FBC) traded down 0.47% during mid-day trading on Tuesday, reaching $33.66. 102,504 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $32.30 and its 200 day moving average price is $30.17. The company has a market cap of $1.92 billion, a PE ratio of 12.90 and a beta of 0.86. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $33.97.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.09. The business had revenue of $97.00 million during the quarter, compared to analyst estimates of $87.95 million. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. Flagstar Bancorp’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities research analysts predict that Flagstar Bancorp will post $2.37 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in Flagstar Bancorp by 5.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 90,702 shares of the savings and loans company’s stock worth $2,557,000 after acquiring an additional 4,605 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Flagstar Bancorp by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 206,513 shares of the savings and loans company’s stock worth $5,822,000 after acquiring an additional 21,682 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Flagstar Bancorp by 2.7% in the 1st quarter. Bank of America Corp DE now owns 116,669 shares of the savings and loans company’s stock worth $3,289,000 after buying an additional 3,079 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Flagstar Bancorp by 125.4% in the 1st quarter. Nuveen Asset Management LLC now owns 578,255 shares of the savings and loans company’s stock worth $16,301,000 after buying an additional 321,734 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Flagstar Bancorp in the 1st quarter worth about $2,831,000. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
About Flagstar Bancorp
Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. It operates through four segments: Community Banking, Mortgage Originations, Mortgage Servicing, and Other. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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