Basswood Capital Management L.L.C. lessened its holdings in shares of Flagstar Bancorp Inc (NYSE:FBC) by 53.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 611,616 shares of the savings and loans company’s stock after selling 708,497 shares during the quarter. Basswood Capital Management L.L.C. owned 1.06% of Flagstar Bancorp worth $16,147,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC grew its position in shares of Flagstar Bancorp by 6.0% in the 3rd quarter. Teachers Advisors LLC now owns 504,382 shares of the savings and loans company’s stock worth $15,873,000 after acquiring an additional 28,598 shares in the last quarter. United Services Automobile Association grew its position in shares of Flagstar Bancorp by 1.2% in the 3rd quarter. United Services Automobile Association now owns 149,334 shares of the savings and loans company’s stock worth $4,700,000 after acquiring an additional 1,840 shares in the last quarter. Bayview Asset Management LLC acquired a new position in shares of Flagstar Bancorp in the 4th quarter worth approximately $39,306,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Flagstar Bancorp by 183.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,425 shares of the savings and loans company’s stock worth $1,839,000 after acquiring an additional 37,825 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Flagstar Bancorp by 13.9% in the 3rd quarter. BlackRock Inc. now owns 2,642,426 shares of the savings and loans company’s stock worth $83,158,000 after acquiring an additional 322,665 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.
Several research analysts have recently commented on FBC shares. Zacks Investment Research lowered Flagstar Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Sandler O’Neill lowered Flagstar Bancorp from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research report on Friday, January 11th. Boenning Scattergood reiterated a “buy” rating on shares of Flagstar Bancorp in a research report on Thursday, January 31st. Wedbush reiterated an “outperform” rating on shares of Flagstar Bancorp in a research report on Thursday, January 31st. Finally, ValuEngine lowered Flagstar Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Flagstar Bancorp has an average rating of “Hold” and a consensus price target of $39.25.
NYSE:FBC opened at $32.41 on Friday. Flagstar Bancorp Inc has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a market cap of $1.87 billion, a P/E ratio of 10.73 and a beta of 1.20. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 2.48.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, January 22nd. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. Flagstar Bancorp had a return on equity of 11.75% and a net margin of 16.67%. The business had revenue of $250.00 million during the quarter, compared to analyst estimates of $235.82 million. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities analysts expect that Flagstar Bancorp Inc will post 3.32 EPS for the current fiscal year.
Flagstar Bancorp declared that its board has initiated a share buyback plan on Wednesday, January 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the savings and loans company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.49%. Flagstar Bancorp’s dividend payout ratio is currently 5.30%.
About Flagstar Bancorp
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial, small business, and consumer banking services to individuals and businesses in the United States. Its Community Banking segment offers various products, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer and commercial loans, commercial real estate loans, equipment finance and leasing, home builder finance loans, and warehouse lines of credit.
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