Brokerages Anticipate Flagstar Bancorp, Inc. (NYSE:FBC) Will Announce Quarterly Sales of $225.10 Million
Equities analysts predict that Flagstar Bancorp, Inc. (NYSE:FBC) will announce $225.10 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Flagstar Bancorp’s earnings, with the lowest sales estimate coming in at $210.00 million and the highest estimate coming in at $234.00 million. Flagstar Bancorp reported sales of $236.00 million in the same quarter last year, which indicates a negative year over year growth rate of 4.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Flagstar Bancorp will report full year sales of $225.10 million for the current financial year, with estimates ranging from $792.00 million to $843.40 million. For the next year, analysts forecast that the firm will report sales of $908.77 million per share, with estimates ranging from $857.00 million to $951.30 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Flagstar Bancorp.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 EPS for the quarter, beating 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 10.29%. The firm had revenue of $97 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis.
Several analysts have recently weighed in on FBC shares. Zacks Investment Research lowered shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Wedbush upgraded shares of Flagstar Bancorp from a “neutral” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Wednesday, April 26th. FBR & Co reiterated an “outperform” rating on shares of Flagstar Bancorp in a research note on Tuesday, April 25th. TheStreet upgraded shares of Flagstar Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Finally, ValuEngine lowered shares of Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Flagstar Bancorp presently has an average rating of “Hold” and an average target price of $33.75.
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A number of hedge funds have recently made changes to their positions in FBC. State Street Corp raised its stake in shares of Flagstar Bancorp by 6.2% in the fourth quarter. State Street Corp now owns 401,195 shares of the savings and loans company’s stock worth $10,808,000 after buying an additional 23,286 shares during the period. FMR LLC acquired a new stake in shares of Flagstar Bancorp during the fourth quarter worth approximately $374,000. Guggenheim Capital LLC raised its stake in shares of Flagstar Bancorp by 1.9% in the fourth quarter. Guggenheim Capital LLC now owns 39,331 shares of the savings and loans company’s stock worth $1,059,000 after buying an additional 737 shares during the period. Teachers Advisors LLC raised its stake in shares of Flagstar Bancorp by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 31,190 shares of the savings and loans company’s stock worth $840,000 after buying an additional 595 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in shares of Flagstar Bancorp by 675.8% in the fourth quarter. Highbridge Capital Management LLC now owns 79,749 shares of the savings and loans company’s stock worth $2,148,000 after buying an additional 69,470 shares during the period. Institutional investors and hedge funds own 96.32% of the company’s stock.
Shares of Flagstar Bancorp (FBC) traded up 0.09% during midday trading on Friday, reaching $32.37. 43,659 shares of the company’s stock traded hands. The stock has a market cap of $1.85 billion, a P/E ratio of 12.56 and a beta of 0.86. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $32.88. The stock has a 50-day moving average price of $30.78 and a 200-day moving average price of $28.73.
About Flagstar Bancorp
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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