Flagstar Bancorp, Inc. (FBC) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Flagstar Bancorp, Inc. (NYSE:FBC) from a hold rating to a buy rating in a research report report published on Tuesday, September 19th. The firm currently has $38.00 target price on the savings and loans company’s stock.

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. “

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Flagstar Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated a buy rating and issued a $35.00 price objective on shares of Flagstar Bancorp in a research report on Monday, August 28th. Boenning Scattergood reiterated a buy rating on shares of Flagstar Bancorp in a research report on Tuesday, June 13th. Raymond James Financial, Inc. started coverage on shares of Flagstar Bancorp in a report on Thursday, August 31st. They issued an outperform rating and a $36.00 price target for the company. Finally, FBR & Co reissued an outperform rating and set a $35.00 price target (up from $32.00) on shares of Flagstar Bancorp in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $35.80.

Shares of Flagstar Bancorp (NYSE FBC) traded up 0.90% during midday trading on Tuesday, reaching $35.76. The company’s stock had a trading volume of 19,705 shares. Flagstar Bancorp has a 52 week low of $25.06 and a 52 week high of $35.89. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.71 and a beta of 0.86. The stock has a 50-day moving average price of $32.30 and a 200 day moving average price of $30.17.

Flagstar Bancorp (NYSE:FBC) last posted 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 $97.00 million for the quarter, compared to analyst estimates of $87.95 million. Flagstar Bancorp had a return on equity of 10.15% and a net margin of 16.52%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Equities analysts forecast that Flagstar Bancorp will post $2.37 earnings per share for the current year.

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Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its position in shares of 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 purchasing an additional 4,605 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 purchasing an additional 21,682 shares in the last quarter. Bank of America Corp DE grew its position in shares of Flagstar Bancorp by 2.7% during 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 purchasing an additional 3,079 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Flagstar Bancorp by 125.4% during 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 purchasing an additional 321,734 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Flagstar Bancorp during the 1st quarter worth approximately $2,831,000. Hedge funds and other institutional investors own 96.25% 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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Analyst Recommendations for Flagstar Bancorp (NYSE:FBC)




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