Flagstar Bancorp, Inc. (FBC) Stock Rating Reaffirmed by Piper Jaffray Companies
Flagstar Bancorp, Inc. (NYSE:FBC)‘s stock had its “buy” rating reissued by research analysts at Piper Jaffray Companies in a research note issued on Monday. They currently have a $35.00 target price on the savings and loans company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 9.34% from the stock’s current price.
Several other research firms have also commented on FBC. ValuEngine raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, July 28th. FBR & Co reissued an “outperform” rating and issued a $35.00 target price (up from $32.00) on shares of Flagstar Bancorp in a report on Wednesday, July 26th. BidaskClub lowered shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, Boenning Scattergood reissued a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.00.
Flagstar Bancorp (NYSE:FBC) opened at 32.01 on Monday. Flagstar Bancorp has a one year low of $25.06 and a one year high of $33.44. The company has a market cap of $1.83 billion, a PE ratio of 12.27 and a beta of 0.87. The firm has a 50-day moving average of $31.44 and a 200-day moving average of $29.58.
Flagstar Bancorp (NYSE:FBC) last released its 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 firm had revenue of $97 million for the quarter, compared to analyst estimates of $87.95 million. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts predict that Flagstar Bancorp will post $2.36 EPS for the current year.
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Several large investors have recently made changes to their positions in FBC. Bank of New York Mellon Corp raised its stake in shares of Flagstar Bancorp by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 206,513 shares of the savings and loans company’s stock valued at $5,822,000 after buying an additional 21,682 shares during the period. Bank of America Corp DE raised its stake in shares of Flagstar Bancorp by 2.7% in the first quarter. Bank of America Corp DE now owns 116,669 shares of the savings and loans company’s stock valued at $3,289,000 after buying an additional 3,079 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Flagstar Bancorp by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 90,702 shares of the savings and loans company’s stock valued at $2,557,000 after buying an additional 4,605 shares during the period. Nuveen Asset Management LLC raised its stake in shares of 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 valued at $16,301,000 after buying an additional 321,734 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Flagstar Bancorp during the first quarter valued at about $2,831,000. 96.25% of the stock is currently owned by institutional investors.
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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