Flagstar Bancorp Inc. (FBC) Hits New 12-Month High at $26.28
Flagstar Bancorp Inc. (NYSE:FBC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $26.28 and last traded at $26.07, with a volume of 96,751 shares traded. The stock had previously closed at $25.93.
FBC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, June 9th. Boenning Scattergood started coverage on Flagstar Bancorp in a report on Wednesday, June 29th. They issued an “outperform” rating and a $26.50 price objective on the stock. Compass Point raised their price objective on Flagstar Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 5th. FBR & Co restated a “buy” rating on shares of Flagstar Bancorp in a report on Wednesday, April 27th. Finally, Keefe, Bruyette & Woods upgraded Flagstar Bancorp from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Tuesday, June 28th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.63.
The firm has a market capitalization of $1.47 billion and a PE ratio of 11.06. The firm’s 50 day moving average price is $24.03 and its 200 day moving average price is $21.87.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, April 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. During the same period in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that Flagstar Bancorp Inc. will post $2.12 earnings per share for the current year.
A number of hedge funds and institutional investors have recently modified their holdings of FBC. Cornerstone Capital Management Holdings LLC. increased its position in shares of Flagstar Bancorp by 268.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 45,698 shares of the company’s stock worth $1,056,000 after buying an additional 33,298 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Flagstar Bancorp during the fourth quarter worth approximately $1,080,000. LSV Asset Management increased its position in shares of Flagstar Bancorp by 466.4% in the fourth quarter. LSV Asset Management now owns 97,987 shares of the company’s stock worth $2,264,000 after buying an additional 80,687 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Flagstar Bancorp by 10.7% in the fourth quarter. Nationwide Fund Advisors now owns 206,993 shares of the company’s stock worth $4,784,000 after buying an additional 20,074 shares during the period.
Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. The Company operates through three segments: Mortgage Originations, Mortgage Servicing and Community Banking. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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