Zacks Investment Research upgraded shares of Flagstar Bancorp, Inc. (NYSE:FBC) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $36.00 price target 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. “
A number of other analysts have also recently issued reports on the stock. FBR & Co reiterated an outperform rating and issued a $35.00 target price (up from $32.00) on shares of Flagstar Bancorp in a research note on Wednesday. Piper Jaffray Companies reiterated a buy rating and issued a $35.00 target price on shares of Flagstar Bancorp in a research note on Wednesday. ValuEngine cut shares of Flagstar Bancorp from a buy rating to a hold rating in a research note on Monday, July 17th. BidaskClub cut shares of Flagstar Bancorp from a hold rating to a sell rating in a research note on Thursday, July 13th. Finally, Boenning Scattergood reiterated a buy rating on shares of Flagstar Bancorp in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $35.25.
Flagstar Bancorp (NYSE FBC) traded down 0.09% during midday trading on Friday, hitting $32.31. 198,380 shares of the stock traded hands. Flagstar Bancorp has a 1-year low of $25.06 and a 1-year high of $32.88. The firm has a market cap of $1.85 billion, a P/E ratio of 12.38 and a beta of 0.86. The company has a 50-day moving average price of $30.83 and a 200-day moving average price of $28.77.
Flagstar Bancorp (NYSE:FBC) last posted its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.09. The firm had revenue of $97 million during the quarter, compared to analysts’ expectations of $87.95 million. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.29%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. Analysts predict that Flagstar Bancorp will post $2.35 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in FBC. State Street Corp raised its position in Flagstar Bancorp by 6.2% in the fourth quarter. State Street Corp now owns 401,195 shares of the savings and loans company’s stock worth $10,808,000 after buying an additional 23,286 shares in the last quarter. FMR LLC purchased a new position in Flagstar Bancorp during the fourth quarter worth approximately $374,000. Guggenheim Capital LLC raised its position in Flagstar Bancorp by 1.9% in the fourth quarter. Guggenheim Capital LLC now owns 39,331 shares of the savings and loans company’s stock worth $1,059,000 after buying an additional 737 shares in the last quarter. Teachers Advisors LLC raised its position in Flagstar Bancorp by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 31,190 shares of the savings and loans company’s stock worth $840,000 after buying an additional 595 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its position in Flagstar Bancorp by 675.8% in the fourth quarter. Highbridge Capital Management LLC now owns 79,749 shares of the savings and loans company’s stock worth $2,148,000 after buying an additional 69,470 shares in the last quarter. 96.32% of the stock is currently owned by 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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