Flagstar Bancorp, Inc. (FBC) Expected to Announce Quarterly Sales of $232.43 Million
Wall Street brokerages forecast that Flagstar Bancorp, Inc. (NYSE:FBC) will post $232.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Flagstar Bancorp’s earnings, with estimates ranging from $231.30 million to $234.00 million. Flagstar Bancorp reported sales of $236.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The company is expected to issue its next earnings report on Tuesday, October 24th.
On average, analysts expect that Flagstar Bancorp will report full-year sales of $232.43 million for the current financial year, with estimates ranging from $833.00 million to $843.40 million. For the next year, analysts expect that the firm will report sales of $942.43 million per share, with estimates ranging from $918.00 million to $958.00 million. Zacks’ sales averages are an average based on a survey of research firms that follow Flagstar Bancorp.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The business had revenue of $97 million during the quarter, compared to the consensus estimate of $87.95 million. Flagstar Bancorp had a return on equity of 10.15% and a net margin of 16.52%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share.
FBC has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine downgraded shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $35.00 target price on shares of Flagstar Bancorp in a report on Wednesday, July 26th. Wedbush raised shares of Flagstar Bancorp from a “neutral” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Wednesday, April 26th. Finally, TheStreet raised shares of Flagstar Bancorp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Flagstar Bancorp presently has an average rating of “Buy” and an average target price of $35.25.
Flagstar Bancorp (NYSE FBC) opened at 31.98 on Wednesday. The stock’s 50 day moving average price is $31.33 and its 200 day moving average price is $29.31. Flagstar Bancorp has a 12 month low of $25.06 and a 12 month high of $33.44. The firm has a market capitalization of $1.83 billion, a P/E ratio of 12.26 and a beta of 0.87.
Hedge funds have recently modified their holdings of the company. FMR LLC acquired a new stake in shares of Flagstar Bancorp during the fourth quarter valued at $374,000. Teachers Advisors LLC boosted its stake in shares of Flagstar Bancorp by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 31,190 shares of the savings and loans company’s stock valued at $840,000 after buying an additional 595 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Flagstar Bancorp by 8.6% in the first quarter. Wells Fargo & Company MN now owns 31,162 shares of the savings and loans company’s stock valued at $878,000 after buying an additional 2,469 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in shares of Flagstar Bancorp by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 47,700 shares of the savings and loans company’s stock valued at $1,345,000 after buying an additional 1,300 shares during the period. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of Flagstar Bancorp during the first quarter valued at $844,000. Institutional investors and hedge funds own 95.86% of the company’s stock.
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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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