Flagstar Bancorp, Inc. (FBC) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Flagstar Bancorp, Inc. (NYSE:FBC) from a buy rating to a hold rating in a research report report published on Monday.
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. “
FBC has been the subject of a number of other reports. Piper Jaffray Companies reissued a buy rating and set a $35.00 price target on shares of Flagstar Bancorp in a research report on Wednesday, July 26th. FBR & Co reissued an outperform rating and set a $35.00 price target (up from $32.00) on shares of Flagstar Bancorp in a research report on Wednesday, July 26th. ValuEngine cut shares of Flagstar Bancorp from a buy rating to a hold rating in a research report on Monday, July 17th. BidaskClub cut shares of Flagstar Bancorp from a hold rating to a sell rating in a research report on Thursday, July 13th. Finally, Boenning Scattergood reissued a buy rating on shares of Flagstar Bancorp in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $35.40.
Shares of Flagstar Bancorp (NYSE FBC) opened at 33.82 on Monday. The company has a market capitalization of $1.93 billion, a P/E ratio of 12.96 and a beta of 0.86. The stock’s 50 day moving average is $32.27 and its 200 day moving average is $30.13. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $33.97.
Flagstar Bancorp (NYSE:FBC) last posted its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.09. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. The firm had revenue of $97.00 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the company posted $0.66 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts expect that Flagstar Bancorp will post $2.37 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of FBC. Teachers Advisors LLC lifted its position in Flagstar Bancorp by 1,159.3% during the 1st quarter. Teachers Advisors LLC now owns 392,776 shares of the savings and loans company’s stock valued at $11,072,000 after acquiring an additional 361,586 shares during the period. Nuveen Asset Management LLC increased its stake in Flagstar Bancorp by 125.4% during the 1st quarter. Nuveen Asset Management LLC now owns 578,255 shares of the savings and loans company’s stock valued at $16,301,000 after purchasing an additional 321,734 shares in the last quarter. Federated Investors Inc. PA increased its stake in Flagstar Bancorp by 121.5% during the 2nd quarter. Federated Investors Inc. PA now owns 443,162 shares of the savings and loans company’s stock valued at $13,658,000 after purchasing an additional 243,052 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Flagstar Bancorp by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,158 shares of the savings and loans company’s stock valued at $95,609,000 after purchasing an additional 232,925 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Flagstar Bancorp by 54.2% during the 1st quarter. AQR Capital Management LLC now owns 442,062 shares of the savings and loans company’s stock valued at $12,462,000 after purchasing an additional 155,355 shares in the last quarter. 96.25% of the stock is owned by institutional investors.
Flagstar Bancorp Company Profile
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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