FBR & Co Brokers Decrease Earnings Estimates for Flagstar Bancorp, Inc. (FBC)
Flagstar Bancorp, Inc. (NYSE:FBC) – Research analysts at FBR & Co cut their FY2018 earnings estimates for shares of Flagstar Bancorp in a note issued to investors on Monday. FBR & Co analyst J. Levi-Ribner now anticipates that the savings and loans company will post earnings of $2.55 per share for the year, down from their previous estimate of $2.65. FBR & Co currently has a “Outperform” rating on the stock.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “sell” rating to a “hold” rating in a report on Monday, March 13th. BidaskClub upgraded shares of Flagstar Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Stephens initiated coverage on shares of Flagstar Bancorp in a research note on Thursday, March 23rd. They issued an “equal weight” rating for the company. Boenning Scattergood reissued a “buy” rating on shares of Flagstar Bancorp in a research report on Tuesday, June 13th. Finally, TheStreet raised shares of Flagstar Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.90.
Shares of Flagstar Bancorp (FBC) traded down 1.14% during mid-day trading on Tuesday, hitting $30.42. 43,184 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $29.92 and a 200-day moving average price of $28.23. Flagstar Bancorp has a 1-year low of $24.83 and a 1-year high of $31.57. The stock has a market cap of $1.74 billion, a P/E ratio of 11.80 and a beta of 0.86.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings results on Tuesday, April 25th. The savings and loans company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. Flagstar Bancorp had a net margin of 17.51% and a return on equity of 10.74%. The company had revenue of $183 million for the quarter, compared to the consensus estimate of $172.90 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share.
Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Flagstar Bancorp during the fourth quarter worth about $1,971,000. State Street Corp raised its position in shares of Flagstar Bancorp by 6.2% in the fourth quarter. State Street Corp now owns 401,195 shares of the savings and loans company’s stock worth $10,808,000 after buying an additional 23,286 shares during the period. FMR LLC bought a new position in shares of Flagstar Bancorp during the fourth quarter worth about $374,000. Allianz Asset Management AG raised its position in shares of Flagstar Bancorp by 160.9% in the fourth quarter. Allianz Asset Management AG now owns 69,872 shares of the savings and loans company’s stock worth $1,883,000 after buying an additional 43,092 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of Flagstar Bancorp by 1.9% in the fourth quarter. Guggenheim Capital LLC now owns 39,331 shares of the savings and loans company’s stock worth $1,059,000 after buying an additional 737 shares during the period. 96.37% of the stock is currently owned by institutional investors and hedge funds.
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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