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.
TRADEMARK VIOLATION WARNING: This piece of content was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/09/29/flagstar-bancorp-inc-fbc-raised-to-buy-at-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on Flagstar Bancorp (FBC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flagstar Bancorp Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Flagstar Bancorp Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.