Zacks: Brokerages Anticipate Flagstar Bancorp, Inc. (FBC) Will Announce Quarterly Sales of $232.43 Million
Brokerages expect Flagstar Bancorp, Inc. (NYSE:FBC) to post $232.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Flagstar Bancorp’s earnings. The highest sales estimate is $234.00 million and the lowest is $231.30 million. Flagstar Bancorp reported sales of $236.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The company is expected to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Flagstar Bancorp will report full-year sales of $232.43 million for the current fiscal year, with estimates ranging from $833.00 million to $843.40 million. For the next financial year, analysts forecast that the firm will post sales of $942.43 million per share, with estimates ranging from $918.00 million to $958.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Flagstar Bancorp.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.09. The firm had revenue of $97 million during the quarter, compared to analyst estimates of $87.95 million. Flagstar Bancorp had a return on equity of 10.15% and a net margin of 16.52%. Flagstar Bancorp’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS.
FBC has been the subject of a number of analyst reports. Zacks Investment Research cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Piper Jaffray Companies restated a “buy” rating and set a $35.00 price objective on shares of Flagstar Bancorp in a research note on Wednesday, July 26th. Wedbush upgraded Flagstar Bancorp from a “neutral” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Wednesday, April 26th. Finally, TheStreet upgraded Flagstar Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $35.25.
A number of large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its stake in Flagstar Bancorp by 1,159.3% in the first quarter. Teachers Advisors LLC now owns 392,776 shares of the savings and loans company’s stock worth $11,072,000 after buying an additional 361,586 shares during the period. Nuveen Asset Management LLC boosted its stake in Flagstar Bancorp by 125.4% in the first quarter. Nuveen Asset Management LLC now owns 578,255 shares of the savings and loans company’s stock worth $16,301,000 after buying an additional 321,734 shares during the period. Federated Investors Inc. PA boosted its stake in Flagstar Bancorp by 121.5% in the second quarter. Federated Investors Inc. PA now owns 443,162 shares of the savings and loans company’s stock worth $13,658,000 after buying an additional 243,052 shares during the period. Dimensional Fund Advisors LP boosted its stake in Flagstar Bancorp by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,102,158 shares of the savings and loans company’s stock worth $95,609,000 after buying an additional 232,925 shares during the period. Finally, FSI Group LLC acquired a new stake in Flagstar Bancorp during the first quarter worth approximately $4,933,000. Institutional investors own 95.86% of the company’s stock.
Flagstar Bancorp (NYSE FBC) opened at 31.98 on Wednesday. The stock has a 50 day moving average price of $31.33 and a 200 day moving average price of $29.31. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $33.44. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 12.26 and a beta of 0.87.
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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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