Zacks Investment Research Lowers Flagstar Bancorp (FBC) to Hold

Flagstar Bancorp (NYSE:FBC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Other analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $42.00 target price on shares of Flagstar Bancorp in a research report on Wednesday, December 27th. Boenning Scattergood set a $40.00 target price on shares of Flagstar Bancorp and gave the company a “buy” rating in a research report on Wednesday, December 27th. FBR & Co restated a “buy” rating and set a $42.00 target price (up from $35.00) on shares of Flagstar Bancorp in a research report on Wednesday, October 25th. Piper Jaffray Companies restated a “buy” rating and set a $40.00 target price on shares of Flagstar Bancorp in a research report on Thursday, October 19th. Finally, ValuEngine upgraded shares of Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.57.

Shares of Flagstar Bancorp (NYSE FBC) traded up $0.18 during mid-day trading on Tuesday, hitting $35.18. 109,405 shares of the stock were exchanged, compared to its average volume of 190,510. The company has a debt-to-equity ratio of 4.04, a current ratio of 1.36 and a quick ratio of 0.80. The company has a market capitalization of $2,020.00, a price-to-earnings ratio of 32.57 and a beta of 1.20. Flagstar Bancorp has a 52-week low of $26.31 and a 52-week high of $40.06.

Flagstar Bancorp (NYSE:FBC) last announced its earnings results on Tuesday, January 23rd. The savings and loans company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $103.91 million. Flagstar Bancorp had a net margin of 6.32% and a return on equity of 10.14%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. sell-side analysts forecast that Flagstar Bancorp will post 3.26 EPS for the current year.

In other Flagstar Bancorp news, COO Lee Matthew Smith sold 3,000 shares of Flagstar Bancorp stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $36.60, for a total transaction of $109,800.00. Following the transaction, the chief operating officer now owns 70,254 shares of the company’s stock, valued at $2,571,296.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 63.00% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of FBC. Schwab Charles Investment Management Inc. lifted its holdings in Flagstar Bancorp by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 91,471 shares of the savings and loans company’s stock valued at $2,820,000 after purchasing an additional 769 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Flagstar Bancorp by 11.8% during the second quarter. Wells Fargo & Company MN now owns 34,853 shares of the savings and loans company’s stock valued at $1,074,000 after purchasing an additional 3,691 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Flagstar Bancorp by 42.9% during the second quarter. Alliancebernstein L.P. now owns 33,300 shares of the savings and loans company’s stock valued at $1,026,000 after purchasing an additional 9,990 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Flagstar Bancorp by 15.9% during the second quarter. TIAA CREF Investment Management LLC now owns 117,729 shares of the savings and loans company’s stock valued at $3,628,000 after purchasing an additional 16,176 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Flagstar Bancorp by 9.3% during the second quarter. New York State Common Retirement Fund now owns 23,500 shares of the savings and loans company’s stock valued at $724,000 after purchasing an additional 1,999 shares in the last quarter. 97.45% of the stock is currently owned by institutional investors and hedge funds.

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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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