Q3 2016 Earnings Forecast for Flagstar Bancorp Inc. Issued By Wedbush (FBC)
Flagstar Bancorp Inc. (NYSE:FBC) – Equities researchers at Wedbush issued their Q3 2016 earnings per share estimates for shares of Flagstar Bancorp in a note issued to investors on Monday. Wedbush analyst H. Coffey expects that the firm will post earnings of $0.67 per share for the quarter. Wedbush has a “Neutral” rating and a $30.00 price target on the stock. Wedbush also issued estimates for Flagstar Bancorp’s Q4 2016 earnings at $0.50 EPS, FY2016 earnings at $2.38 EPS, Q1 2017 earnings at $0.42 EPS, Q2 2017 earnings at $0.72 EPS, Q3 2017 earnings at $0.73 EPS, Q4 2017 earnings at $0.56 EPS, FY2017 earnings at $2.43 EPS and FY2018 earnings at $2.75 EPS.
Flagstar Bancorp (NYSE:FBC) last announced its earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 prior year, the firm earned $0.68 earnings per share.
Several other equities analysts also recently commented on FBC. Sandler O’Neill downgraded shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 23rd. Zacks Investment Research downgraded shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Flagstar Bancorp in a research note on Wednesday. FBR & Co increased their price objective on shares of Flagstar Bancorp from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. downgraded shares of Flagstar Bancorp from an “overweight” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Wednesday, July 27th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Flagstar Bancorp currently has a consensus rating of “Hold” and a consensus price target of $26.50.
Flagstar Bancorp (NYSE:FBC) opened at 27.00 on Thursday. The firm has a 50 day moving average of $27.74 and a 200-day moving average of $25.15. The company has a market capitalization of $1.53 billion, a P/E ratio of 11.54 and a beta of 2.10. Flagstar Bancorp has a 52 week low of $17.25 and a 52 week high of $28.54.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. ClariVest Asset Management LLC raised its position in shares of Flagstar Bancorp by 133,793.1% in the second quarter. ClariVest Asset Management LLC now owns 38,829 shares of the company’s stock worth $948,000 after buying an additional 38,800 shares during the period. Strs Ohio raised its position in shares of Flagstar Bancorp by 2.0% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock worth $739,000 after buying an additional 600 shares during the period. Nordea Investment Management AB acquired a new position in shares of Flagstar Bancorp during the second quarter worth about $1,451,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Flagstar Bancorp by 270.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,100 shares of the company’s stock worth $271,000 after buying an additional 8,100 shares during the period. Finally, Boothbay Fund Management LLC raised its position in shares of Flagstar Bancorp by 7.9% in the first quarter. Boothbay Fund Management LLC now owns 18,100 shares of the company’s stock worth $388,000 after buying an additional 1,320 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.
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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