Acadian Asset Management LLC Has $614,000 Position in Flagstar Bancorp, Inc. (NYSE:FBC)
Acadian Asset Management LLC cut its stake in shares of Flagstar Bancorp, Inc. (NYSE:FBC) by 85.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 19,930 shares of the savings and loans company’s stock after selling 114,472 shares during the period. Acadian Asset Management LLC’s holdings in Flagstar Bancorp were worth $614,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in FBC. Guggenheim Capital LLC boosted 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 valued at $1,059,000 after buying an additional 737 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Flagstar Bancorp by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 206,513 shares of the savings and loans company’s stock worth $5,822,000 after buying an additional 21,682 shares during the last quarter. FMR LLC acquired a new position in Flagstar Bancorp during the fourth quarter worth about $374,000. BlueCrest Capital Management Ltd acquired a new position in Flagstar Bancorp during the first quarter worth about $2,831,000. Finally, State Street Corp boosted its position in 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 last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.
Flagstar Bancorp, Inc. (FBC) traded up 1.08% during trading on Friday, hitting $31.71. The company’s stock had a trading volume of 248,385 shares. Flagstar Bancorp, Inc. has a 12 month low of $25.06 and a 12 month high of $33.44. The firm has a 50 day moving average of $31.25 and a 200 day moving average of $29.19. The firm has a market cap of $1.81 billion, a P/E ratio of 12.15 and a beta of 0.87.
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, topping analysts’ consensus estimates of $0.62 by $0.09. The firm had revenue of $97 million during the quarter, compared to the consensus estimate of $87.95 million. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities research analysts predict that Flagstar Bancorp, Inc. will post $2.36 earnings per share for the current year.
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A number of research firms have issued reports on FBC. FBR & Co restated an “outperform” rating on shares of Flagstar Bancorp in a report on Tuesday, April 25th. BidaskClub upgraded Flagstar Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Boenning Scattergood restated a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 13th. Finally, TheStreet upgraded Flagstar Bancorp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.25.
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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