Flagstar Bancorp, Inc. (FBC) Short Interest Update
Flagstar Bancorp, Inc. (NYSE:FBC) was the recipient of a significant increase in short interest during the month of September. As of September 29th, there was short interest totalling 1,332,508 shares, an increase of 72.9% from the September 15th total of 770,760 shares. Based on an average daily trading volume, of 154,268 shares, the days-to-cover ratio is presently 8.6 days. Approximately 6.3% of the shares of the company are sold short.
A number of equities analysts have weighed in on the company. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price target on shares of Flagstar Bancorp in a research report on Friday, October 6th. ValuEngine cut Flagstar Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, September 19th. Finally, BidaskClub cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $35.80.
Several hedge funds have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Flagstar Bancorp by 0.5% during the 2nd quarter. US Bancorp DE now owns 4,205 shares of the savings and loans company’s stock worth $130,000 after purchasing an additional 23 shares during the last quarter. UBS Group AG grew its stake in Flagstar Bancorp by 0.7% in the 1st quarter. UBS Group AG now owns 11,500 shares of the savings and loans company’s stock valued at $324,000 after buying an additional 83 shares in the last quarter. Legal & General Group Plc grew its stake 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 valued at $159,000 after buying an additional 225 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Flagstar Bancorp by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,411 shares of the savings and loans company’s stock valued at $536,000 after buying an additional 376 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Flagstar Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 27,702 shares of the savings and loans company’s stock valued at $854,000 after buying an additional 568 shares in the last quarter. Institutional investors own 96.25% of the company’s stock.
Shares of Flagstar Bancorp (NYSE:FBC) opened at 35.70 on Tuesday. The stock’s 50 day moving average price is $34.10 and its 200-day moving average price is $31.17. Flagstar Bancorp has a one year low of $25.06 and a one year high of $36.40. The company has a market cap of $2.04 billion, a PE ratio of 13.68 and a beta of 0.82.
Flagstar Bancorp (NYSE:FBC) last issued 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 Thomson Reuters’ 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 company had revenue of $97.00 million during the quarter, compared to analyst estimates of $87.95 million. During the same quarter last year, the business posted $0.66 EPS. Flagstar Bancorp’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts expect that Flagstar Bancorp will post $2.37 EPS for the current year.
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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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