Flagstar Bancorp, Inc. (FBC) Expected to Announce Earnings of $0.70 Per Share
Brokerages forecast that Flagstar Bancorp, Inc. (NYSE:FBC) will announce $0.70 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Flagstar Bancorp’s earnings, with estimates ranging from $0.68 to $0.72. Flagstar Bancorp reported earnings of $0.69 per share in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, October 24th.
On average, analysts expect that Flagstar Bancorp will report full year earnings of $2.37 per share for the current financial year, with EPS estimates ranging from $2.27 to $2.41. For the next year, analysts expect that the business will report earnings of $2.68 per share, with EPS estimates ranging from $2.65 to $2.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Flagstar Bancorp.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.09. The company had revenue of $97.00 million for the quarter, compared to analysts’ expectations of $87.95 million. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. Flagstar Bancorp’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS.
Several analysts recently weighed in on FBC shares. Piper Jaffray Companies restated a “buy” rating and set a $35.00 price objective on shares of Flagstar Bancorp in a research note on Friday. ValuEngine lowered Flagstar Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Raymond James Financial, Inc. started coverage on Flagstar Bancorp in a research note on Thursday, August 31st. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, FBR & Co restated an “outperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Flagstar Bancorp in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $35.80.
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Shares of Flagstar Bancorp (NYSE:FBC) traded down 0.44% during midday trading on Friday, reaching $35.81. 128,359 shares of the company were exchanged. The firm’s 50 day moving average is $33.38 and its 200-day moving average is $30.81. The company has a market capitalization of $2.05 billion, a PE ratio of 13.73 and a beta of 0.83. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $36.34.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in Flagstar Bancorp by 130.5% during the 1st quarter. US Bancorp DE now owns 4,182 shares of the savings and loans company’s stock worth $118,000 after buying an additional 2,368 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Flagstar Bancorp by 105.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,281 shares of the savings and loans company’s stock worth $132,000 after buying an additional 2,193 shares during the period. Advisors Asset Management Inc. lifted its holdings in Flagstar Bancorp by 13.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,811 shares of the savings and loans company’s stock worth $148,000 after buying an additional 582 shares during the period. Legal & General Group Plc lifted its holdings in Flagstar Bancorp by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 5,183 shares of the savings and loans company’s stock worth $159,000 after buying an additional 225 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Flagstar Bancorp by 30.0% during the 1st quarter. Victory Capital Management Inc. now owns 5,247 shares of the savings and loans company’s stock worth $148,000 after buying an additional 1,212 shares during the period. 96.25% of the stock is currently owned by 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. It operates through four segments: Community Banking, Mortgage Originations, Mortgage Servicing, and Other. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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