Flagstar Bancorp Inc (NYSE:FBC) – Analysts at Wedbush upped their FY2018 earnings estimates for Flagstar Bancorp in a research report issued on Wednesday. Wedbush analyst H. Coffey now anticipates that the savings and loans company will post earnings of $3.03 per share for the year, up from their prior estimate of $2.70.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings results on Tuesday, October 24th. The savings and loans company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Flagstar Bancorp had a net margin of 14.56% and a return on equity of 9.77%. The business had revenue of $103.00 million for the quarter, compared to analyst estimates of $100.80 million. During the same period in the previous year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was up 28.8% on a year-over-year basis.
FBC has been the subject of several other reports. Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 price objective on shares of Flagstar Bancorp in a research note on Thursday, October 19th. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of Flagstar Bancorp in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, September 26th. Boenning Scattergood reiterated a “buy” rating on shares of Flagstar Bancorp in a research note on Thursday, October 26th. Finally, FBR & Co reiterated a “buy” rating and set a $42.00 price objective (up from $35.00) on shares of Flagstar Bancorp in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $39.57.
Flagstar Bancorp (FBC) traded up $0.59 during trading hours on Thursday, hitting $39.24. 175,000 shares of the stock traded hands, compared to its average volume of 193,337. Flagstar Bancorp has a 1-year low of $25.06 and a 1-year high of $39.36. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 4.04. The firm has a market capitalization of $2,230.00, a P/E ratio of 16.70 and a beta of 1.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in shares of Flagstar Bancorp by 105.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,281 shares of the savings and loans company’s stock worth $132,000 after acquiring an additional 2,193 shares during the period. SG Americas Securities LLC acquired a new position in shares of Flagstar Bancorp in the third quarter worth about $144,000. Legal & General Group Plc raised its position in shares of Flagstar Bancorp by 4.5% in the second quarter. Legal & General Group Plc now owns 5,183 shares of the savings and loans company’s stock worth $159,000 after acquiring an additional 225 shares during the period. Victory Capital Management Inc. raised its position in shares of Flagstar Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,173 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 926 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Flagstar Bancorp in the third quarter worth about $291,000. Institutional investors own 97.53% of the company’s stock.
In related news, COO Lee Matthew Smith sold 3,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $36.60, for a total transaction of $109,800.00. Following the completion of the transaction, the chief operating officer now directly owns 70,254 shares in the company, valued at $2,571,296.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 63.00% of the company’s stock.
Flagstar Bancorp Company Profile
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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