Flagstar Bancorp Inc (NYSE:FBC) – Equities research analysts at Boenning Scattergood increased their Q2 2018 earnings per share estimates for shares of Flagstar Bancorp in a note issued to investors on Thursday. Boenning Scattergood analyst S. Beury now expects that the savings and loans company will earn $0.90 per share for the quarter, up from their prior estimate of $0.87. Boenning Scattergood currently has a “Buy” rating and a $40.00 target price on the stock.
A number of other analysts have also weighed in on FBC. ValuEngine lowered shares of Flagstar Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating and set a $35.00 price objective on shares of Flagstar Bancorp in a research note on Friday, October 6th. FBR & Co restated a “buy” rating and set a $42.00 price objective (up from $35.00) on shares of Flagstar Bancorp in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 26th. Finally, B. Riley restated a “buy” rating on shares of Flagstar Bancorp in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $39.57.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Flagstar Bancorp had a net margin of 17.17% and a return on equity of 11.22%. The company had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $103.91 million. During the same period last year, the company posted $0.49 EPS. Flagstar Bancorp’s revenue was up 23.0% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of Flagstar Bancorp by 4.5% in the second quarter. Legal & General Group Plc now owns 5,183 shares of the savings and loans company’s stock worth $159,000 after acquiring an additional 225 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Flagstar Bancorp by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,411 shares of the savings and loans company’s stock worth $536,000 after acquiring an additional 376 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Flagstar Bancorp by 0.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 91,471 shares of the savings and loans company’s stock worth $2,820,000 after acquiring an additional 769 shares during the period. Voya Investment Management LLC grew its stake in shares of Flagstar Bancorp by 14.9% in the second quarter. Voya Investment Management LLC now owns 11,586 shares of the savings and loans company’s stock worth $357,000 after acquiring an additional 1,504 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Flagstar Bancorp by 9.3% in the second quarter. New York State Common Retirement Fund now owns 23,500 shares of the savings and loans company’s stock worth $724,000 after acquiring an additional 1,999 shares during the period. Hedge funds and other institutional investors own 97.53% of the company’s stock.
In other news, COO Lee Matthew Smith sold 3,000 shares of Flagstar Bancorp stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $37.48, for a total value of $112,440.00. Following the completion of the sale, the chief operating officer now directly owns 75,835 shares in the company, valued at $2,842,295.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 63.00% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/29/q2-2018-eps-estimates-for-flagstar-bancorp-inc-fbc-boosted-by-analyst.html.
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.
Receive News & Ratings for Flagstar Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.