Flagstar Bancorp Inc. (FBC) Cut to Hold at Zacks Investment Research
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. “
FBC has been the topic of a number of other research reports. Sandler O’Neill cut shares of Flagstar Bancorp from a buy rating to a hold rating in a research report on Friday, September 23rd. Boenning Scattergood initiated coverage on shares of Flagstar Bancorp in a research report on Wednesday, June 29th. They set an outperform rating and a $26.50 price target on the stock. FBR & Co reiterated a buy rating on shares of Flagstar Bancorp in a research report on Tuesday, June 28th. Keefe, Bruyette & Woods cut shares of Flagstar Bancorp from an outperform rating to a market perform rating and boosted their price target for the company from $26.00 to $27.50 in a research report on Wednesday, July 27th. Finally, Piper Jaffray Cos. cut shares of Flagstar Bancorp from an overweight rating to a neutral rating and set a $27.00 price target on the stock. in a research report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Flagstar Bancorp presently has a consensus rating of Hold and a consensus target price of $26.06.
Shares of Flagstar Bancorp (NYSE:FBC) opened at 27.48 on Tuesday. Flagstar Bancorp has a 1-year low of $17.25 and a 1-year high of $28.26. The firm has a 50-day moving average of $27.72 and a 200 day moving average of $24.67. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 11.74 and a beta of 2.17.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. Flagstar Bancorp had a net margin of 19.67% and a return on equity of 12.96%. During the same period in the previous year, the business earned $0.68 EPS. Equities research analysts forecast that Flagstar Bancorp will post $2.29 earnings per share for the current year.
A number of large investors have recently bought and sold shares of FBC. Convergence Investment Partners LLC raised its stake in Flagstar Bancorp by 0.6% in the second quarter. Convergence Investment Partners LLC now owns 113,224 shares of the company’s stock valued at $2,764,000 after buying an additional 697 shares during the last quarter. Virginia Retirement System purchased a new position in shares of Flagstar Bancorp during the first quarter valued at about $412,000. Nordea Investment Management AB purchased a new position in shares of Flagstar Bancorp during the second quarter valued at about $1,451,000. Menta Capital LLC increased its position in shares of Flagstar Bancorp by 97.2% in the first quarter. Menta Capital LLC now owns 35,300 shares of the company’s stock valued at $758,000 after buying an additional 17,400 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Flagstar Bancorp by 9.0% in the first quarter. BlackRock Group LTD now owns 75,532 shares of the company’s stock valued at $1,621,000 after buying an additional 6,247 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
About Flagstar Bancorp
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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