Flagstar Bancorp Inc. (FBC) Reaches New 52-Week High at $26.28
Flagstar Bancorp Inc. (NYSE:FBC) shares hit a new 52-week high on Thursday . The company traded as high as $26.28 and last traded at $26.07, with a volume of 96,751 shares. The stock had previously closed at $25.93.
A number of brokerages have weighed in on FBC. FBR & Co reissued a “buy” rating on shares of Flagstar Bancorp in a research note on Tuesday, June 28th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, June 29th. Boenning Scattergood began coverage on Flagstar Bancorp in a research note on Wednesday, June 29th. They set an “outperform” rating and a $26.50 price target on the stock. Keefe, Bruyette & Woods raised Flagstar Bancorp from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 28th. Finally, Compass Point increased their price target on Flagstar Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.63.
The company has a market capitalization of $1.47 billion and a PE ratio of 11.09. The stock’s 50 day moving average is $24.15 and its 200 day moving average is $21.92.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. During the same quarter last year, the business earned $0.43 earnings per share. Analysts anticipate that Flagstar Bancorp Inc. will post $2.12 earnings per share for the current year.
A number of institutional investors have made changes to their positions in FBC. LSV Asset Management raised 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 valued at $2,264,000 after buying an additional 80,687 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Flagstar Bancorp during the fourth quarter valued at $1,080,000. Cornerstone Capital Management Holdings LLC. raised 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 valued at $1,056,000 after buying an additional 33,298 shares in the last quarter. Finally, Nationwide Fund Advisors raised 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 valued at $4,784,000 after buying an additional 20,074 shares in 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.