Zacks Investment Research upgraded shares of Flagstar Bancorp (NYSE:FBC) from a sell rating to a hold rating in a research report report published on Tuesday, May 29th.
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. “
Other research analysts also recently issued reports about the company. Compass Point raised Flagstar Bancorp from a neutral rating to a buy rating in a report on Monday, May 14th. ValuEngine cut shares of Flagstar Bancorp from a strong-buy rating to a buy rating in a research report on Wednesday, May 2nd. Boenning Scattergood restated a buy rating on shares of Flagstar Bancorp in a research report on Wednesday, April 25th. B. Riley reiterated a buy rating on shares of Flagstar Bancorp in a research report on Friday, March 2nd. Finally, Wedbush dropped their target price on shares of Flagstar Bancorp from $45.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $40.43.
FBC traded up $0.13 during trading on Tuesday, reaching $35.68. 1,303,700 shares of the stock traded hands, compared to its average volume of 251,942. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 4.15. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 14.45 and a beta of 1.21. Flagstar Bancorp has a fifty-two week low of $29.61 and a fifty-two week high of $40.06.
Flagstar Bancorp (NYSE:FBC) last released its earnings results on Tuesday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $223.00 million. Flagstar Bancorp had a return on equity of 10.62% and a net margin of 6.76%. sell-side analysts forecast that Flagstar Bancorp will post 3.07 earnings per share for the current fiscal year.
In other news, Director Peter Schoels sold 8,000,000 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $33.82, for a total transaction of $270,560,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Lee Matthew Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $35.12, for a total transaction of $105,360.00. Following the completion of the sale, the chief operating officer now directly owns 104,445 shares in the company, valued at $3,668,108.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,009,000 shares of company stock valued at $270,876,290. Company insiders own 62.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FBC. Schwab Charles Investment Management Inc. increased its holdings in shares of Flagstar Bancorp by 6.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 102,376 shares of the savings and loans company’s stock worth $3,831,000 after purchasing an additional 5,925 shares during the period. Strs Ohio acquired a new stake in shares of Flagstar Bancorp during the 4th quarter worth approximately $823,000. LSV Asset Management boosted its position in shares of Flagstar Bancorp by 18.9% during the 4th quarter. LSV Asset Management now owns 331,124 shares of the savings and loans company’s stock worth $12,390,000 after acquiring an additional 52,700 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Flagstar Bancorp during the 4th quarter worth approximately $1,807,000. Finally, American Century Companies Inc. boosted its position in shares of Flagstar Bancorp by 117.3% during the 4th quarter. American Century Companies Inc. now owns 182,339 shares of the savings and loans company’s stock worth $6,823,000 after acquiring an additional 98,438 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.
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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