Flagstar Bancorp Inc. (FBC) Reaches New 52-Week High at $26.62
Flagstar Bancorp Inc. (NYSE:FBC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $26.62 and last traded at $26.60, with a volume of 84,169 shares trading hands. The stock had previously closed at $26.20.
FBC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, June 9th. Boenning Scattergood initiated 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 on the stock. Compass Point upped their price target on shares of Flagstar Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 5th. Keefe, Bruyette & Woods upgraded shares of 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, FBR & Co restated a “buy” rating on shares of Flagstar Bancorp in a research note on Wednesday, April 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $25.63.
The stock has a 50 day moving average price of $24.38 and a 200 day moving average price of $22.01. The stock has a market cap of $1.50 billion and a PE ratio of 11.32.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.18. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, analysts anticipate that Flagstar Bancorp Inc. will post $2.12 EPS for the current fiscal year.
Other hedge funds and institutional investors have recently modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Flagstar Bancorp during the fourth quarter worth about $1,080,000. Finally, 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 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.
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