Flagstar Bancorp, Inc. (FBC) Stock Rating Upgraded by Zacks Investment Research
Flagstar Bancorp, Inc. (NYSE:FBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $35.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.08% from the stock’s previous close.
According to Zacks, “Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB, a federally chartered stock savings bank. Through its retail banking centers and e-commerce distribution channels, Flagstar attracts deposits from the general public. The institution utilizes these deposits, along with other funds garnered from the secondary market, to originate or acquire loans on a nationwide basis. “
Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. FBR & Co restated an “outperform” rating and issued a $35.00 price target (up previously from $32.00) on shares of Flagstar Bancorp in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “buy” rating and issued a $35.00 price target on shares of Flagstar Bancorp in a report on Wednesday, July 26th. Finally, Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Flagstar Bancorp presently has an average rating of “Buy” and a consensus target price of $35.00.
Flagstar Bancorp (NYSE FBC) traded up 1.12% during trading on Wednesday, reaching $31.51. The company’s stock had a trading volume of 76,324 shares. Flagstar Bancorp has a one year low of $25.06 and a one year high of $33.44. The firm has a market cap of $1.80 billion, a PE ratio of 12.08 and a beta of 0.87. The company has a 50-day moving average of $31.39 and a 200 day moving average of $29.51.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.62 by $0.09. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. The business had revenue of $97 million during the quarter, compared to analyst estimates of $87.95 million. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Analysts expect that Flagstar Bancorp will post $2.36 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of FBC. Airain ltd purchased a new position in Flagstar Bancorp during the first quarter valued at approximately $303,000. Virginia Retirement Systems ET AL raised its position in Flagstar Bancorp by 56.1% in the first quarter. Virginia Retirement Systems ET AL now owns 27,000 shares of the savings and loans company’s stock valued at $761,000 after buying an additional 9,700 shares during the period. Parametric Portfolio Associates LLC raised its position in Flagstar Bancorp by 9.0% in the first quarter. Parametric Portfolio Associates LLC now owns 84,914 shares of the savings and loans company’s stock valued at $2,394,000 after buying an additional 7,018 shares during the period. UBS Asset Management Americas Inc. purchased a new position in Flagstar Bancorp during the first quarter valued at approximately $203,000. Finally, FSI Group LLC purchased a new position in Flagstar Bancorp during the first quarter valued at approximately $4,933,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.
Flagstar Bancorp Company Profile
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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