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 Friday. The firm presently has a $36.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.42% from the stock’s current price.
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. “
Several other equities analysts also recently commented on the company. Piper Jaffray Companies restated a “buy” rating and issued a $35.00 price objective on shares of Flagstar Bancorp in a research report on Wednesday. Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a research report on Tuesday, June 13th. FBR & Co restated an “outperform” rating and issued a $35.00 price objective (up from $32.00) on shares of Flagstar Bancorp in a research report on Wednesday. Wedbush upgraded Flagstar Bancorp from a “neutral” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Wednesday, April 26th. Finally, ValuEngine downgraded Flagstar Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.25.
Shares of Flagstar Bancorp (FBC) traded down 0.09% during trading on Friday, reaching $32.31. The company’s stock had a trading volume of 198,380 shares. The company has a market cap of $1.84 billion, a PE ratio of 12.53 and a beta of 0.86. The company has a 50 day moving average of $30.83 and a 200 day moving average of $28.77. Flagstar Bancorp has a 12-month low of $25.06 and a 12-month high of $32.88.
Flagstar Bancorp (NYSE:FBC) last released its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The company had revenue of $97 million for the quarter, compared to the consensus estimate of $87.95 million. Flagstar Bancorp had a return on equity of 10.29% and a net margin of 16.52%. Flagstar Bancorp’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, analysts anticipate that Flagstar Bancorp will post $2.35 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of Flagstar Bancorp by 1,159.3% in the first quarter. Teachers Advisors LLC now owns 392,776 shares of the savings and loans company’s stock valued at $11,072,000 after buying an additional 361,586 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Flagstar Bancorp by 125.4% in the first 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 in the last quarter. FSI Group LLC purchased a new stake in Flagstar Bancorp during the first quarter worth approximately $4,933,000. Dimensional Fund Advisors LP increased its stake in Flagstar Bancorp by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,869,233 shares of the savings and loans company’s stock worth $80,884,000 after buying an additional 159,378 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Flagstar Bancorp by 54.2% in the first quarter. AQR Capital Management LLC now owns 442,062 shares of the savings and loans company’s stock worth $12,462,000 after buying an additional 155,355 shares in the last quarter. Institutional investors and hedge funds own 96.32% of the company’s stock.
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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