Flagstar Bancorp, Inc. (FBC) Upgraded to Overweight by Piper Jaffray Companies
Piper Jaffray Companies upgraded shares of Flagstar Bancorp, Inc. (NYSE:FBC) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning. The firm currently has $32.00 price target on the stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Flagstar Bancorp from a hold rating to a buy rating and set a $30.00 target price for the company in a research note on Friday, October 28th. FBR & Co reiterated a buy rating on shares of Flagstar Bancorp in a research note on Tuesday, February 7th. TheStreet downgraded Flagstar Bancorp from a buy rating to a hold rating in a research note on Wednesday, November 30th. Finally, Wedbush reiterated a neutral rating and set a $30.00 target price on shares of Flagstar Bancorp in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Flagstar Bancorp currently has a consensus rating of Hold and a consensus price target of $28.13.
Shares of Flagstar Bancorp (NYSE:FBC) opened at 28.56 on Monday. The company has a market cap of $1.62 billion, a PE ratio of 10.74 and a beta of 1.10. Flagstar Bancorp has a one year low of $18.90 and a one year high of $29.64. The stock’s 50 day moving average price is $26.54 and its 200 day moving average price is $27.32.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, January 24th. The company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Flagstar Bancorp had a return on equity of 11.90% and a net margin of 18.92%. The business had revenue of $87 million for the quarter, compared to the consensus estimate of $80.87 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Equities analysts predict that Flagstar Bancorp will post $2.18 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Flagstar Bancorp by 44.5% in the fourth quarter. Renaissance Technologies LLC now owns 878,612 shares of the company’s stock valued at $23,670,000 after buying an additional 270,612 shares during the period. Dimensional Fund Advisors LP increased its stake in Flagstar Bancorp by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,709,855 shares of the company’s stock valued at $73,004,000 after buying an additional 215,450 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Flagstar Bancorp by 51.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 393,751 shares of the company’s stock valued at $10,926,000 after buying an additional 133,484 shares during the period. Prudential Financial Inc. increased its stake in Flagstar Bancorp by 43.3% in the third quarter. Prudential Financial Inc. now owns 385,160 shares of the company’s stock valued at $10,688,000 after buying an additional 116,310 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Flagstar Bancorp during the fourth quarter valued at about $1,971,000. Institutional investors and hedge funds own 95.27% of the company’s stock.
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. The Company operates through three segments: Mortgage Originations, Mortgage Servicing and Community Banking. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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