Bank of New York Mellon Corp Trims Position in Flagstar Bancorp Inc (NYSE:FBC)
Bank of New York Mellon Corp decreased its holdings in shares of Flagstar Bancorp Inc (NYSE:FBC) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 456,822 shares of the savings and loans company’s stock after selling 17,617 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Flagstar Bancorp worth $13,444,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Flagstar Bancorp by 10.9% during the first quarter. Geode Capital Management LLC now owns 495,804 shares of the savings and loans company’s stock worth $9,831,000 after purchasing an additional 48,576 shares in the last quarter. Citigroup Inc. lifted its position in Flagstar Bancorp by 19.3% in the first quarter. Citigroup Inc. now owns 54,377 shares of the savings and loans company’s stock valued at $1,078,000 after purchasing an additional 8,810 shares during the last quarter. Federated Hermes Inc. lifted its position in Flagstar Bancorp by 59.7% in the first quarter. Federated Hermes Inc. now owns 105,173 shares of the savings and loans company’s stock valued at $2,085,000 after purchasing an additional 39,324 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Flagstar Bancorp by 22.4% in the first quarter. Parametric Portfolio Associates LLC now owns 138,951 shares of the savings and loans company’s stock valued at $2,755,000 after purchasing an additional 25,384 shares during the last quarter. Finally, Strs Ohio lifted its position in Flagstar Bancorp by 7.4% in the second quarter. Strs Ohio now owns 24,600 shares of the savings and loans company’s stock valued at $723,000 after purchasing an additional 1,700 shares during the last quarter.
In other Flagstar Bancorp news, EVP James Ciroli acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average cost of $30.41 per share, with a total value of $60,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Matlin sold 6,900,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $30.05, for a total value of $207,345,000.00. The disclosure for this sale can be found here. Company insiders own 37.70% of the company’s stock.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.38 by $0.65. Flagstar Bancorp had a return on equity of 15.43% and a net margin of 16.78%. The company had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $146.17 million. During the same period last year, the firm posted $0.71 earnings per share. Flagstar Bancorp’s revenue was up 13.5% compared to the same quarter last year. As a group, analysts forecast that Flagstar Bancorp Inc will post 6.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. Flagstar Bancorp’s dividend payout ratio (DPR) is presently 5.78%.
FBC has been the subject of a number of recent analyst reports. B. Riley upped their target price on Flagstar Bancorp from $33.00 to $41.00 in a report on Wednesday, July 29th. ValuEngine downgraded Flagstar Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, July 7th. Finally, Raymond James reaffirmed a “buy” rating on shares of Flagstar Bancorp in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, four 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 an average target price of $37.40.
About Flagstar Bancorp
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial 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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