Flagstar Bancorp Inc. (FBC) Research Coverage Started at Wedbush
Equities research analysts at Wedbush began coverage on shares of Flagstar Bancorp Inc. (NYSE:FBC) in a report released on Monday. The brokerage set a “neutral” rating and a $30.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 7.45% from the company’s current price.
Several other equities research analysts have also commented on FBC. Zacks Investment Research lowered shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Keefe, Bruyette & Woods raised Flagstar Bancorp from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Tuesday, June 28th. Boenning Scattergood assumed coverage on Flagstar Bancorp in a research note on Wednesday, June 29th. They set an “outperform” rating and a $26.50 price target for the company. FBR & Co reaffirmed a “buy” rating on shares of Flagstar Bancorp in a research note on Tuesday, June 28th. Finally, Piper Jaffray Cos. downgraded Flagstar Bancorp from an “overweight” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Wednesday, July 27th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.50.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.56 by $0.10. Flagstar Bancorp had a net margin of 19.67% and a return on equity of 12.96%. During the same quarter last year, the company posted $0.68 EPS.
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Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Flagstar Bancorp by 77.2% in the second quarter. Victory Capital Management Inc. now owns 4,606 shares of the company’s stock valued at $112,000 after buying an additional 2,007 shares during the period. Tower Research Capital LLC TRC boosted its stake in Flagstar Bancorp by 494.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,215 shares of the company’s stock valued at $127,000 after buying an additional 4,337 shares during the period. Panagora Asset Management Inc. boosted its stake in Flagstar Bancorp by 71.1% in the second quarter. Panagora Asset Management Inc. now owns 8,077 shares of the company’s stock valued at $197,000 after buying an additional 3,355 shares during the period. Allianz Asset Management AG acquired a new stake in Flagstar Bancorp during the second quarter valued at approximately $252,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Flagstar Bancorp by 270.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,100 shares of the company’s stock valued at $271,000 after buying an additional 8,100 shares during the period. Institutional investors own 95.44% of the company’s stock.
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. 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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