Flagstar Bank (FBC) Position Lifted by Wells Fargo & Company MN
Wells Fargo & Company MN lifted its position in shares of Flagstar Bank (NYSE:FBC) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,668 shares of the savings and loans company’s stock after purchasing an additional 6,380 shares during the period. Wells Fargo & Company MN’s holdings in Flagstar Bank were worth $1,746,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in shares of Flagstar Bank by 9.1% during the fourth quarter. Swiss National Bank now owns 40,600 shares of the savings and loans company’s stock valued at $1,519,000 after purchasing an additional 3,400 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Flagstar Bank during the third quarter valued at about $144,000. Schwab Charles Investment Management Inc. lifted its position in shares of Flagstar Bank by 5.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 96,451 shares of the savings and loans company’s stock valued at $3,423,000 after purchasing an additional 4,980 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Flagstar Bank by 35.5% during the third quarter. California Public Employees Retirement System now owns 27,367 shares of the savings and loans company’s stock valued at $971,000 after purchasing an additional 7,167 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Flagstar Bank during the fourth quarter valued at about $293,000. 97.21% of the stock is currently owned by institutional investors.
In related news, COO Lee Matthew Smith sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.96, for a total transaction of $107,880.00. Following the completion of the sale, the chief operating officer now owns 72,835 shares in the company, valued at $2,619,146.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 9,000 shares of company stock valued at $327,510 in the last 90 days. 63.00% of the stock is currently owned by corporate insiders.
Flagstar Bank (NYSE:FBC) last posted its quarterly earnings data on Tuesday, January 23rd. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Flagstar Bank had a net margin of 6.32% and a return on equity of 10.16%. The business had revenue of $107.00 million during the quarter, compared to the consensus estimate of $103.91 million. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. equities research analysts anticipate that Flagstar Bank will post 3.14 EPS for the current year.
A number of research analysts recently weighed in on FBC shares. ValuEngine raised shares of Flagstar Bank from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered shares of Flagstar Bank from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. B. Riley restated a “buy” rating and set a $42.00 price objective on shares of Flagstar Bank in a report on Wednesday, December 27th. Wedbush decreased their price objective on shares of Flagstar Bank from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, April 12th. Finally, Boenning Scattergood set a $40.00 price objective on shares of Flagstar Bank and gave the stock a “buy” rating in a report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Flagstar Bank presently has an average rating of “Buy” and a consensus target price of $40.29.
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Flagstar Bank Company Profile
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial, small business, and consumer banking services to individuals and businesses in the United States. Its Community Banking segment offers various products, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer and commercial loans, commercial real estate loans, equipment finance and leasing, home builder finance loans, and warehouse lines of credit.
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