Flagstar Bancorp (NYSE:FBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other equities analysts also recently commented on the stock. B. Riley lifted their target price on shares of Flagstar Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine downgraded shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Sandler O’Neill raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. Keefe, Bruyette & Woods raised shares of Flagstar Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 27th. Finally, Stephens reaffirmed a “hold” rating on shares of Flagstar Bancorp in a research note on Monday, June 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Flagstar Bancorp has an average rating of “Buy” and an average price target of $41.57.
FBC stock traded down $0.12 during trading on Tuesday, reaching $31.19. 236,800 shares of the stock were exchanged, compared to its average volume of 259,290. The company has a debt-to-equity ratio of 3.81, a current ratio of 1.29 and a quick ratio of 0.86. Flagstar Bancorp has a 1 year low of $30.82 and a 1 year high of $40.06. The company has a market capitalization of $1.85 billion, a PE ratio of 12.63 and a beta of 0.98.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 24th. The savings and loans company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Flagstar Bancorp had a net margin of 7.31% and a return on equity of 11.13%. The company had revenue of $238.00 million for the quarter, compared to the consensus estimate of $243.68 million. sell-side analysts forecast that Flagstar Bancorp will post 3.06 EPS for the current year.
In other Flagstar Bancorp news, COO Lee Matthew Smith sold 3,000 shares of Flagstar Bancorp stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $33.72, for a total transaction of $101,160.00. Following the completion of the sale, the chief operating officer now directly owns 93,630 shares in the company, valued at $3,157,203.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 62.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Flagstar Bancorp by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,033,251 shares of the savings and loans company’s stock valued at $138,181,000 after acquiring an additional 345,602 shares during the last quarter. BlackRock Inc. increased its position in shares of Flagstar Bancorp by 50.1% during the second quarter. BlackRock Inc. now owns 2,319,761 shares of the savings and loans company’s stock valued at $79,474,000 after acquiring an additional 774,298 shares during the last quarter. EJF Capital LLC increased its position in shares of Flagstar Bancorp by 48.8% during the second quarter. EJF Capital LLC now owns 1,572,675 shares of the savings and loans company’s stock valued at $53,880,000 after acquiring an additional 515,678 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Flagstar Bancorp by 12.3% during the first quarter. Nuveen Asset Management LLC now owns 1,175,117 shares of the savings and loans company’s stock valued at $41,599,000 after acquiring an additional 128,297 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Flagstar Bancorp by 36.5% during the second quarter. Renaissance Technologies LLC now owns 992,112 shares of the savings and loans company’s stock valued at $33,990,000 after acquiring an additional 265,100 shares during the last quarter. Institutional investors and hedge funds own 93.77% of the company’s stock.
Flagstar Bancorp Company Profile
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial, small business, 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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