Flagstar Bancorp, Inc. (FBC) Upgraded by Zacks Investment Research to Buy
Flagstar Bancorp, Inc. (NYSE:FBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $36.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.92% 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. “
FBC has been the topic of a number of other research reports. Raymond James Financial, Inc. started coverage on shares of Flagstar Bancorp in a report on Thursday, August 31st. They issued an “outperform” rating and a $36.00 target price on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $35.00 target price on shares of Flagstar Bancorp in a report on Monday, August 28th. ValuEngine upgraded shares of Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.40.
Shares of Flagstar Bancorp (FBC) traded down 0.53% during trading on Thursday, hitting $31.88. The stock had a trading volume of 148,094 shares. The firm has a 50-day moving average of $31.90 and a 200 day moving average of $29.88. Flagstar Bancorp has a 1-year low of $25.06 and a 1-year high of $33.44. The company has a market capitalization of $1.82 billion, a P/E ratio of 12.22 and a beta of 0.86.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share 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 quarter in the prior year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities research analysts predict that Flagstar Bancorp will post $2.37 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. US Bancorp DE grew its position in Flagstar Bancorp by 130.5% in the 1st quarter. US Bancorp DE now owns 4,182 shares of the savings and loans company’s stock worth $118,000 after purchasing an additional 2,368 shares in the last quarter. Advisors Asset Management Inc. grew its position in Flagstar Bancorp by 20.1% in the 1st quarter. Advisors Asset Management Inc. now owns 4,229 shares of the savings and loans company’s stock worth $119,000 after purchasing an additional 707 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Flagstar Bancorp by 105.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,281 shares of the savings and loans company’s stock worth $132,000 after purchasing an additional 2,193 shares in the last quarter. Legal & General Group Plc grew its position in Flagstar Bancorp by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 5,183 shares of the savings and loans company’s stock worth $159,000 after purchasing an additional 225 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Flagstar Bancorp by 30.0% in the 1st quarter. Victory Capital Management Inc. now owns 5,247 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 1,212 shares in the last quarter. 96.25% of the stock is 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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