Wedbush Equities Analysts Increase Earnings Estimates for Flagstar Bancorp Inc (FBC)
Flagstar Bancorp Inc (NYSE:FBC) – Wedbush lifted their FY2019 earnings per share estimates for shares of Flagstar Bancorp in a research report issued on Wednesday. Wedbush analyst H. Coffey now forecasts that the savings and loans company will earn $3.50 per share for the year, up from their prior estimate of $3.10.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings results on Tuesday, October 24th. The savings and loans company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. Flagstar Bancorp had a return on equity of 9.77% and a net margin of 14.56%. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $100.80 million. During the same period last year, the firm posted $0.96 EPS. The business’s revenue was up 28.8% on a year-over-year basis.
A number of other research analysts have also commented on the company. ValuEngine upgraded Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. B. Riley reiterated a “buy” rating and issued a $42.00 price objective on shares of Flagstar Bancorp in a research report on Wednesday, December 27th. Boenning Scattergood set a $40.00 price objective on Flagstar Bancorp and gave the company a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 26th. Finally, FBR & Co reiterated a “buy” rating and issued a $42.00 price objective (up from $35.00) on shares of Flagstar Bancorp in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $39.57.
Flagstar Bancorp (FBC) traded down $0.49 during mid-day trading on Friday, reaching $38.75. The company had a trading volume of 231,438 shares, compared to its average volume of 197,567. Flagstar Bancorp has a 12-month low of $25.06 and a 12-month high of $39.50. The firm has a market cap of $2,230.00, a PE ratio of 16.49 and a beta of 1.05. The company has a debt-to-equity ratio of 4.04, a current ratio of 1.36 and a quick ratio of 0.80.
In other Flagstar Bancorp news, COO Lee Matthew Smith sold 3,000 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $36.60, for a total value of $109,800.00. Following the transaction, the chief operating officer now directly owns 70,254 shares in the company, valued at approximately $2,571,296.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 63.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. EJF Capital LLC boosted its position in shares of Flagstar Bancorp by 57.8% in the 3rd quarter. EJF Capital LLC now owns 1,183,841 shares of the savings and loans company’s stock worth $42,003,000 after purchasing an additional 433,841 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Flagstar Bancorp by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,158 shares of the savings and loans company’s stock worth $95,609,000 after purchasing an additional 232,925 shares during the last quarter. Jacobs Asset Management LLC boosted its position in shares of Flagstar Bancorp by 55.7% in the 3rd quarter. Jacobs Asset Management LLC now owns 325,000 shares of the savings and loans company’s stock worth $11,531,000 after purchasing an additional 116,310 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Flagstar Bancorp in the 3rd quarter worth $2,977,000. Finally, Teachers Advisors LLC boosted its position in shares of Flagstar Bancorp by 16.3% in the 2nd quarter. Teachers Advisors LLC now owns 456,739 shares of the savings and loans company’s stock worth $14,077,000 after purchasing an additional 63,963 shares during the last quarter. Hedge funds and other institutional investors own 97.53% of the company’s stock.
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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