Flagstar Bancorp Inc (FBC) Receives $37.67 Average PT from Analysts
Flagstar Bancorp Inc (NYSE:FBC) has received a consensus rating of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $37.67.
A number of brokerages have issued reports on FBC. Zacks Investment Research downgraded Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Monday, March 25th. ValuEngine upgraded Flagstar Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Wedbush restated an “outperform” rating on shares of Flagstar Bancorp in a research report on Thursday, January 31st. Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a research report on Thursday, January 31st. Finally, Sandler O’Neill cut Flagstar Bancorp from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Friday, January 11th.
Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Flagstar Bancorp during the fourth quarter worth approximately $29,000. Bank of Montreal Can increased its position in shares of Flagstar Bancorp by 36.8% during the fourth quarter. Bank of Montreal Can now owns 1,746 shares of the savings and loans company’s stock worth $46,000 after purchasing an additional 470 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Flagstar Bancorp during the fourth quarter worth approximately $224,000. Metropolitan Life Insurance Co. NY increased its position in shares of Flagstar Bancorp by 366.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,696 shares of the savings and loans company’s stock worth $256,000 after purchasing an additional 7,616 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Flagstar Bancorp during the fourth quarter worth approximately $259,000. Institutional investors and hedge funds own 95.17% of the company’s stock.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings results 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 company had revenue of $250.00 million during the quarter, compared to the consensus estimate of $235.82 million. During the same period in the previous year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that Flagstar Bancorp will post 3.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 28th. Flagstar Bancorp’s dividend payout ratio (DPR) is presently 5.30%.
Flagstar Bancorp announced that its board has approved a share buyback plan on Wednesday, January 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the savings and loans company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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