Flagstar Bancorp Inc (NYSE:FBC) – Wedbush boosted their FY2019 earnings per share estimates for shares of Flagstar Bancorp in a note issued to investors on Wednesday. Wedbush analyst H. Coffey now anticipates that the savings and loans company will post earnings of $3.50 per share for the year, up from their prior estimate of $3.10.
A number of other research firms also recently weighed in on FBC. B. Riley reissued a “buy” rating and set a $42.00 price target on shares of Flagstar Bancorp in a research note on Wednesday, December 27th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday, October 26th. Boenning Scattergood set a $40.00 price target on shares of Flagstar Bancorp and gave the stock a “buy” rating in a research note on Wednesday, December 27th. ValuEngine raised shares of Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, FBR & Co reissued a “buy” rating and set a $42.00 price target (up from $35.00) on shares of Flagstar Bancorp in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven 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 an average target price of $39.57.
Flagstar Bancorp (NYSE:FBC) traded down $0.49 on Friday, hitting $38.75. 231,438 shares of the company were exchanged, compared to its average volume of 165,482. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.80 and a current ratio of 1.36. The company has a market capitalization of $2,220.00, a P/E ratio of 16.49 and a beta of 1.05. Flagstar Bancorp has a twelve month low of $25.06 and a twelve month high of $39.50.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, October 24th. The savings and loans company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $103.00 million during the quarter, compared to the consensus estimate of $100.80 million. Flagstar Bancorp had a net margin of 14.56% and a return on equity of 9.77%. Flagstar Bancorp’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share.
In related news, COO Lee Matthew Smith sold 3,000 shares of the business’s stock in a transaction that occurred 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 owns 70,254 shares in the company, valued at $2,571,296.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 63.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its holdings in Flagstar Bancorp by 35.5% during the third quarter. California Public Employees Retirement System now owns 27,367 shares of the savings and loans company’s stock valued at $971,000 after purchasing an additional 7,167 shares during the period. Jacobs Asset Management LLC grew its holdings in Flagstar Bancorp by 55.7% during the third quarter. Jacobs Asset Management LLC now owns 325,000 shares of the savings and loans company’s stock valued at $11,531,000 after purchasing an additional 116,310 shares during the period. EJF Capital LLC grew its holdings in Flagstar Bancorp by 57.8% during the third quarter. EJF Capital LLC now owns 1,183,841 shares of the savings and loans company’s stock valued at $42,003,000 after purchasing an additional 433,841 shares during the period. Dimensional Fund Advisors LP grew its holdings in Flagstar Bancorp by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,249,040 shares of the savings and loans company’s stock valued at $115,276,000 after purchasing an additional 146,882 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Flagstar Bancorp by 5.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 96,451 shares of the savings and loans company’s stock valued at $3,423,000 after purchasing an additional 4,980 shares during the period. Hedge funds and other institutional investors own 97.53% of the company’s stock.
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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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