Wedbush Research Analysts Decrease Earnings Estimates for Flagstar Bancorp Inc (FBC)

Flagstar Bancorp Inc (NYSE:FBC) – Stock analysts at Wedbush decreased their Q1 2019 earnings per share (EPS) estimates for Flagstar Bancorp in a research note issued on Wednesday, October 24th, according to Zacks Investment Research. Wedbush analyst H. Coffey now expects that the savings and loans company will earn $0.76 per share for the quarter, down from their prior forecast of $0.81. Wedbush also issued estimates for Flagstar Bancorp’s Q3 2019 earnings at $0.95 EPS and Q4 2019 earnings at $0.86 EPS.

Several other equities analysts have also recently weighed in on FBC. Zacks Investment Research raised Flagstar Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Sandler O’Neill reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Flagstar Bancorp in a report on Thursday, July 26th. TheStreet cut Flagstar Bancorp from a “b” rating to a “c+” rating in a report on Friday, November 9th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Flagstar Bancorp in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.50.

NYSE FBC traded up $0.19 during midday trading on Monday, hitting $31.14. The company had a trading volume of 172,592 shares, compared to its average volume of 390,747. The stock has a market capitalization of $1.78 billion, a PE ratio of 12.61 and a beta of 0.89. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.23 and a quick ratio of 0.78. Flagstar Bancorp has a twelve month low of $28.18 and a twelve month high of $40.06.

Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings data on Tuesday, October 23rd. The savings and loans company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $231.00 million during the quarter, compared to analysts’ expectations of $242.20 million. Flagstar Bancorp had a return on equity of 11.62% and a net margin of 7.89%. During the same period in the previous year, the firm earned $0.70 EPS.

In other news, CEO Alessandro Dinello acquired 1,000 shares of Flagstar Bancorp stock in a transaction that occurred on Wednesday, October 24th. The shares were acquired at an average price of $29.08 per share, for a total transaction of $29,080.00. Following the transaction, the chief executive officer now directly owns 191,359 shares of the company’s stock, valued at approximately $5,564,719.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lee Matthew Smith sold 3,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $33.72, for a total value of $101,160.00. Following the completion of the sale, the chief operating officer now owns 93,630 shares in the company, valued at approximately $3,157,203.60. The disclosure for this sale can be found here. Company insiders own 62.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Systematic Financial Management LP grew its position in shares of Flagstar Bancorp by 4.3% in the 3rd quarter. Systematic Financial Management LP now owns 40,405 shares of the savings and loans company’s stock valued at $1,272,000 after buying an additional 1,670 shares during the last quarter. United Services Automobile Association grew its position in shares of Flagstar Bancorp by 1.2% in the 3rd quarter. United Services Automobile Association now owns 149,334 shares of the savings and loans company’s stock valued at $4,700,000 after buying an additional 1,840 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Flagstar Bancorp by 17.6% in the 2nd quarter. Voya Investment Management LLC now owns 12,891 shares of the savings and loans company’s stock valued at $442,000 after buying an additional 1,925 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Flagstar Bancorp by 57.8% in the 2nd quarter. SG Americas Securities LLC now owns 5,370 shares of the savings and loans company’s stock valued at $184,000 after buying an additional 1,967 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Flagstar Bancorp by 0.8% in the 1st quarter. Northern Trust Corp now owns 264,856 shares of the savings and loans company’s stock valued at $9,376,000 after buying an additional 2,139 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

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.

Featured Article: Can individual investors take part in an IPO?

Get a free copy of the Zacks research report on Flagstar Bancorp (FBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Flagstar Bancorp (NYSE:FBC)

Receive News & Ratings for Flagstar Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply