B. Riley Comments on Flagstar Bancorp Inc’s FY2017 Earnings (FBC)
Flagstar Bancorp Inc (NYSE:FBC) – Investment analysts at B. Riley upped their FY2017 earnings per share estimates for shares of Flagstar Bancorp in a research note issued to investors on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the savings and loans company will earn $2.42 per share for the year, up from their previous estimate of $2.35. B. Riley has a “Buy” rating and a $42.00 price target on the stock. B. Riley also issued estimates for Flagstar Bancorp’s Q4 2017 earnings at $0.55 EPS, Q1 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $0.80 EPS and FY2019 earnings at $3.70 EPS.
Several other equities research analysts have also issued reports on FBC. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Flagstar Bancorp in a research note on Friday, October 6th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, September 26th. ValuEngine raised shares of Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Boenning Scattergood set a $40.00 price objective on shares of Flagstar Bancorp and gave the company a “buy” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $39.57.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, October 24th. The savings and loans company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $103.00 million during the quarter, compared to analyst estimates of $100.80 million. Flagstar Bancorp had a net margin of 14.56% and a return on equity of 9.77%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS.
In related news, COO Lee Matthew Smith sold 3,000 shares of Flagstar Bancorp stock in a transaction on Friday, November 24th. The shares were sold at an average price of $36.60, for a total value of $109,800.00. Following the completion of the sale, the chief operating officer now owns 70,254 shares of the company’s stock, valued at approximately $2,571,296.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 63.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in FBC. EJF Capital LLC raised its holdings in Flagstar Bancorp by 57.8% in the 3rd quarter. EJF Capital LLC now owns 1,183,841 shares of the savings and loans company’s stock worth $42,003,000 after acquiring an additional 433,841 shares during the period. Dimensional Fund Advisors LP raised its holdings in Flagstar Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,158 shares of the savings and loans company’s stock worth $95,609,000 after acquiring an additional 232,925 shares during the period. Jacobs Asset Management LLC raised its holdings in Flagstar Bancorp by 55.7% in the 3rd quarter. Jacobs Asset Management LLC now owns 325,000 shares of the savings and loans company’s stock worth $11,531,000 after acquiring an additional 116,310 shares during the period. American Century Companies Inc. bought a new position in Flagstar Bancorp in the 3rd quarter worth $2,977,000. Finally, Teachers Advisors LLC raised its holdings in Flagstar Bancorp by 16.3% in the 2nd quarter. Teachers Advisors LLC now owns 456,739 shares of the savings and loans company’s stock worth $14,077,000 after acquiring an additional 63,963 shares during the period. 97.53% of the stock is owned by institutional investors and hedge funds.
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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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