Flagstar Bancorp Inc. (FBC) Sees Strong Trading Volume
Shares of Flagstar Bancorp Inc. (NYSE:FBC) saw an uptick in trading volume on Wednesday . 192,308 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 225,899 shares.The stock last traded at $25.80 and had previously closed at $25.64.
Several research firms have recently weighed in on FBC. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Friday, June 3rd. FBR & Co reiterated a “buy” rating on shares of Flagstar Bancorp in a research note on Tuesday, June 28th. TheStreet upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, April 28th. Finally, Boenning Scattergood assumed coverage on shares of Flagstar Bancorp in a research note on Wednesday, June 29th. They set an “outperform” rating and a $26.50 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $25.63.
The stock has a market capitalization of $1.47 billion and a PE ratio of 11.04. The stock has a 50 day moving average of $24.03 and a 200-day moving average of $21.87.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. During the same period in the previous year, the business posted $0.43 EPS. Equities research analysts expect that Flagstar Bancorp Inc. will post $2.12 earnings per share for the current year.
Several hedge funds recently added to or reduced their stakes in FBC. Nationwide Fund Advisors raised its stake in 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. Cornerstone Capital Management Holdings LLC. raised its stake 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 last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Flagstar Bancorp during the fourth quarter worth approximately $1,080,000. Finally, LSV Asset Management raised its stake 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 last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.