Flagstar Bancorp, Inc. (FBC) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of Flagstar Bancorp, Inc. (NYSE:FBC) from a buy rating to a hold rating in a report published on Wednesday.
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. “
FBC has been the subject of several other research reports. BidaskClub raised shares of Flagstar Bancorp from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Raymond James Financial, Inc. assumed coverage on shares of Flagstar Bancorp in a research note on Thursday, August 31st. They set an outperform rating and a $36.00 target price for the company. Boenning Scattergood reaffirmed a buy rating on shares of Flagstar Bancorp in a research note on Tuesday, June 13th. FBR & Co reaffirmed an outperform rating and set a $35.00 target price (up previously from $32.00) on shares of Flagstar Bancorp in a research note on Wednesday, July 26th. Finally, ValuEngine raised shares of Flagstar Bancorp from a hold rating to a buy rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Flagstar Bancorp has a consensus rating of Buy and an average target price of $35.40.
Flagstar Bancorp (FBC) traded up 1.32% during trading on Wednesday, hitting $32.30. 66,709 shares of the company were exchanged. The stock’s 50-day moving average is $31.97 and its 200-day moving average is $29.90. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 12.38 and a beta of 0.86. Flagstar Bancorp has a 12 month low of $25.06 and a 12 month high of $33.44.
Flagstar Bancorp (NYSE:FBC) last announced its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The company had revenue of $97 million during the quarter, compared to analyst estimates of $87.95 million. Flagstar Bancorp had a net margin of 16.52% and a return on equity of 10.15%. Flagstar Bancorp’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that Flagstar Bancorp will post $2.37 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2017/09/10/flagstar-bancorp-inc-fbc-downgraded-by-zacks-investment-research-to-hold.html.
Large investors have recently modified their holdings of the stock. US Bancorp DE raised its holdings in Flagstar Bancorp by 130.5% in the first quarter. US Bancorp DE now owns 4,182 shares of the savings and loans company’s stock valued at $118,000 after acquiring an additional 2,368 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Flagstar Bancorp by 20.1% in the first quarter. Advisors Asset Management Inc. now owns 4,229 shares of the savings and loans company’s stock valued at $119,000 after acquiring an additional 707 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Flagstar Bancorp by 105.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,281 shares of the savings and loans company’s stock valued at $132,000 after acquiring an additional 2,193 shares in the last quarter. Legal & General Group Plc raised its holdings in Flagstar Bancorp by 4.5% in the second quarter. Legal & General Group Plc now owns 5,183 shares of the savings and loans company’s stock valued at $159,000 after acquiring an additional 225 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Flagstar Bancorp by 30.0% in the first quarter. Victory Capital Management Inc. now owns 5,247 shares of the savings and loans company’s stock valued at $148,000 after acquiring an additional 1,212 shares in the last quarter. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Flagstar Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp Inc. and related stocks with our FREE daily email newsletter.