Flagstar Bancorp Inc (NYSE:FBC) – Investment analysts at Wedbush upped their Q3 2020 earnings per share (EPS) estimates for shares of Flagstar Bancorp in a research note issued on Wednesday, July 29th. Wedbush analyst H. Coffey now forecasts that the savings and loans company will post earnings per share of $2.50 for the quarter, up from their previous forecast of $1.00. Wedbush has a “Outperform” rating and a $35.00 price objective on the stock. Wedbush also issued estimates for Flagstar Bancorp’s Q4 2020 earnings at $1.82 EPS, FY2020 earnings at $7.15 EPS, Q1 2021 earnings at $1.42 EPS, Q2 2021 earnings at $1.29 EPS, Q3 2021 earnings at $0.85 EPS and Q4 2021 earnings at $0.70 EPS.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $2.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.65. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $146.17 million. Flagstar Bancorp had a net margin of 16.78% and a return on equity of 15.43%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share.
Several other research firms also recently commented on FBC. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, July 7th. Raymond James upped their price objective on shares of Flagstar Bancorp from $35.00 to $40.00 and gave the company a “strong-buy” rating in a report on Friday. B. Riley upped their price objective on shares of Flagstar Bancorp from $33.00 to $41.00 in a report on Wednesday. Finally, ValuEngine downgraded shares of Flagstar Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $37.40.
NYSE FBC opened at $31.38 on Friday. The company has a market cap of $1.78 billion, a PE ratio of 6.35 and a beta of 1.72. Flagstar Bancorp has a 52 week low of $16.76 and a 52 week high of $40.00. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 2.56. The firm’s 50-day simple moving average is $28.40 and its two-hundred day simple moving average is $28.56.
Several institutional investors have recently made changes to their positions in FBC. Victory Capital Management Inc. lifted its holdings in shares of Flagstar Bancorp by 50.3% in the fourth quarter. Victory Capital Management Inc. now owns 12,217 shares of the savings and loans company’s stock worth $467,000 after buying an additional 4,089 shares in the last quarter. Amalgamated Bank purchased a new stake in Flagstar Bancorp in the fourth quarter valued at approximately $227,000. Goldman Sachs Group Inc. raised its stake in Flagstar Bancorp by 14.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 319,026 shares of the savings and loans company’s stock valued at $12,203,000 after purchasing an additional 39,419 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Flagstar Bancorp by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 483,097 shares of the savings and loans company’s stock valued at $18,478,000 after purchasing an additional 74,025 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Flagstar Bancorp by 4.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,057 shares of the savings and loans company’s stock valued at $1,532,000 after purchasing an additional 1,646 shares in the last quarter. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, August 31st. Flagstar Bancorp’s payout ratio is 5.78%.
About Flagstar Bancorp
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial 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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