Flagstar Bancorp (NYSE:FBC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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 brokerages have also recently weighed in on FBC. Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a report on Wednesday, October 24th. Sandler O’Neill cut Flagstar Bancorp from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a report on Friday, January 11th. B. Riley set a $44.00 price objective on Flagstar Bancorp and gave the company a “buy” rating in a report on Friday, October 12th. TheStreet cut Flagstar Bancorp from a “b” rating to a “c+” rating in a report on Friday, November 9th. Finally, ValuEngine cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $39.25.
FBC stock traded up $0.70 during trading hours on Monday, reaching $29.98. 708,992 shares of the stock were exchanged, compared to its average volume of 300,357. The stock has a market cap of $1.73 billion, a PE ratio of 12.14 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 3.28. Flagstar Bancorp has a 12 month low of $25.30 and a 12 month high of $40.06.
Flagstar Bancorp (NYSE:FBC) last released its earnings results on Tuesday, October 23rd. The savings and loans company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $231.00 million during the quarter, compared to analysts’ expectations of $242.20 million. Flagstar Bancorp had a return on equity of 11.62% and a net margin of 7.89%. During the same quarter in the prior year, the company earned $0.70 EPS. On average, analysts forecast that Flagstar Bancorp will post 3.01 earnings per share for the current fiscal year.
In related news, CEO Alessandro Dinello acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average price of $29.08 per share, for a total transaction of $29,080.00. Following the acquisition, the chief executive officer now directly owns 191,359 shares of the company’s stock, valued at $5,564,719.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 62.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of FBC. SG Americas Securities LLC grew its holdings in Flagstar Bancorp by 57.8% during the second quarter. SG Americas Securities LLC now owns 5,370 shares of the savings and loans company’s stock worth $184,000 after purchasing an additional 1,967 shares during the period. Alpine Woods Capital Investors LLC bought a new position in Flagstar Bancorp during the third quarter worth about $220,000. State of Alaska Department of Revenue bought a new position in Flagstar Bancorp during the fourth quarter worth about $259,000. Louisiana State Employees Retirement System bought a new position in Flagstar Bancorp during the fourth quarter worth about $293,000. Finally, Jane Street Group LLC grew its holdings in Flagstar Bancorp by 33.8% during the second quarter. Jane Street Group LLC now owns 8,657 shares of the savings and loans company’s stock worth $297,000 after purchasing an additional 2,186 shares during the period. Institutional investors and hedge funds own 95.18% of the company’s stock.
Flagstar Bancorp Company Profile
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial, small business, and consumer banking services to individuals and businesses in the United States. Its Community Banking segment offers various products, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer and commercial loans, commercial real estate loans, equipment finance and leasing, home builder finance loans, and warehouse lines of credit.
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