Zacks Investment Research upgraded shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports. They currently have $38.00 price target on the savings and loans company’s stock.

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. “

Several other analysts have also recently commented on the company. ValuEngine upgraded Vanda Pharmaceuticals from a hold rating to a buy rating in a report on Friday, March 29th. Piper Jaffray Companies reiterated an overweight rating and issued a $760.00 target price (up from $755.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Finally, Raymond James reiterated a buy rating on shares of Teck Resources in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $37.20.

Shares of NYSE:FBC traded up $0.18 during midday trading on Monday, hitting $33.30. 255,861 shares of the stock were exchanged, compared to its average volume of 312,417. The firm has a market cap of $1.90 billion, a PE ratio of 11.03 and a beta of 1.23. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 0.76. The business’s 50-day simple moving average is $32.15. Flagstar Bancorp has a 12 month low of $25.30 and a 12 month high of $36.16.

Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings results on Tuesday, April 23rd. The savings and loans company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $230.70 million. Flagstar Bancorp had a return on equity of 11.60% and a net margin of 16.38%. During the same period in the previous year, the business posted $0.60 earnings per share. Research analysts forecast that Flagstar Bancorp will post 3.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, May 31st. Flagstar Bancorp’s payout ratio is presently 5.30%.

A number of hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its holdings in Flagstar Bancorp by 1.6% in the first quarter. Texas Permanent School Fund now owns 19,545 shares of the savings and loans company’s stock valued at $643,000 after acquiring an additional 312 shares during the last quarter. Boston Advisors LLC boosted its holdings in shares of Flagstar Bancorp by 1.2% during the 1st quarter. Boston Advisors LLC now owns 35,973 shares of the savings and loans company’s stock worth $1,184,000 after buying an additional 410 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Flagstar Bancorp during the fourth quarter worth approximately $29,000. Royce & Associates LP acquired a new position in shares of Flagstar Bancorp during the first quarter worth approximately $40,000. Finally, Nordea Investment Management AB raised its position in shares of Flagstar Bancorp by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 166,300 shares of the savings and loans company’s stock worth $4,390,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 98.56% of the company’s stock.

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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