Flagstar Bancorp Inc (FBC) Shares Bought by Nuveen Asset Management LLC
Nuveen Asset Management LLC lifted its position in Flagstar Bancorp Inc (NYSE:FBC) by 12.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,175,117 shares of the savings and loans company’s stock after purchasing an additional 128,297 shares during the quarter. Nuveen Asset Management LLC’s holdings in Flagstar Bancorp were worth $41,599,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Flagstar Bancorp in the first quarter worth about $282,000. GSA Capital Partners LLP raised its stake in shares of Flagstar Bancorp by 8.9% in the first quarter. GSA Capital Partners LLP now owns 22,721 shares of the savings and loans company’s stock worth $804,000 after purchasing an additional 1,861 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Flagstar Bancorp by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,687,649 shares of the savings and loans company’s stock worth $130,543,000 after purchasing an additional 203,616 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Flagstar Bancorp by 42.6% in the first quarter. New York State Common Retirement Fund now owns 33,500 shares of the savings and loans company’s stock worth $1,186,000 after purchasing an additional 10,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Flagstar Bancorp by 89.8% in the first quarter. JPMorgan Chase & Co. now owns 210,160 shares of the savings and loans company’s stock worth $7,440,000 after purchasing an additional 99,441 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.
Shares of Flagstar Bancorp opened at $36.31 on Thursday, MarketBeat.com reports. The company has a debt-to-equity ratio of 4.15, a current ratio of 1.33 and a quick ratio of 0.82. The company has a market cap of $2.00 billion, a P/E ratio of 14.70 and a beta of 1.21. Flagstar Bancorp Inc has a twelve month low of $29.07 and a twelve month high of $40.06.
Several brokerages have recently issued reports on FBC. B. Riley restated a “buy” rating on shares of Flagstar Bancorp in a research note on Friday, March 2nd. Sandler O’Neill upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Boenning Scattergood restated a “buy” rating and issued a $41.00 price objective on shares of Flagstar Bancorp in a research note on Wednesday. Wedbush reduced their price objective on Flagstar Bancorp from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, April 12th. Finally, ValuEngine upgraded Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Flagstar Bancorp currently has a consensus rating of “Buy” and an average target price of $40.43.
In related news, COO Lee Matthew Smith sold 3,000 shares of Flagstar Bancorp stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $35.73, for a total transaction of $107,190.00. Following the completion of the transaction, the chief operating officer now directly owns 69,835 shares in the company, valued at $2,495,204.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 9,000 shares of company stock valued at $316,290. 62.90% of the stock is owned by company insiders.
About Flagstar Bancorp
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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