Russell Investments Group Ltd. lessened its stake in shares of Flagstar Bancorp, Inc. (NYSE:FBC) by 40.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,069 shares of the savings and loans company’s stock after selling 24,329 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Flagstar Bancorp worth $1,111,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Flagstar Bancorp by 5.3% during the first 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 lifted its stake in shares of Flagstar Bancorp by 11.7% during the first 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 lifted its stake in shares of Flagstar Bancorp by 2.7% during the first 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 lifted its stake in shares of Flagstar Bancorp by 125.4% during 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 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 first quarter worth about $2,831,000. Institutional investors own 96.25% of the company’s stock.
A number of brokerages have commented on FBC. BidaskClub upgraded Flagstar Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Raymond James Financial, Inc. began coverage on Flagstar Bancorp in a research note on Thursday, August 31st. They set an “outperform” rating and a $36.00 price objective on the stock. Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a research note on Tuesday, June 13th. Finally, FBR & Co restated an “outperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Flagstar Bancorp in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Flagstar Bancorp presently has an average rating of “Buy” and a consensus target price of $35.40.
Shares of Flagstar Bancorp, Inc. (NYSE:FBC) traded up 0.64% during mid-day trading on Tuesday, hitting $33.14. The stock had a trading volume of 32,832 shares. The company has a market cap of $1.89 billion, a PE ratio of 12.70 and a beta of 0.86. Flagstar Bancorp, Inc. has a one year low of $25.06 and a one year high of $33.44. The firm’s 50 day moving average price is $32.03 and its 200-day moving average price is $29.93.
Flagstar Bancorp (NYSE:FBC) last released its quarterly 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. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. The company had revenue of $97.00 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Flagstar Bancorp, Inc. will post $2.37 earnings per share for the current fiscal year.
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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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