Analysts Set Flagstar Bancorp, Inc. (FBC) Price Target at $39.00
Flagstar Bancorp, Inc. (NYSE:FBC) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.00.
Several analysts have commented on FBC shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $35.00 target price on shares of Flagstar Bancorp in a research note on Friday, October 6th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. started coverage on shares of Flagstar Bancorp in a research note on Thursday, August 31st. They issued an “outperform” rating and a $36.00 target price for the company. FBR & Co reaffirmed a “buy” rating and issued a $42.00 target price (up from $35.00) on shares of Flagstar Bancorp in a research note on Wednesday, October 25th. Finally, ValuEngine raised shares of Flagstar Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st.
Flagstar Bancorp (NYSE:FBC) last released its earnings results on Tuesday, October 24th. The savings and loans company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $100.80 million. Flagstar Bancorp had a net margin of 14.56% and a return on equity of 9.91%. Flagstar Bancorp’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in shares of Flagstar Bancorp during the 3rd quarter valued at $2,977,000. Schneider Capital Management Corp grew its stake in shares of Flagstar Bancorp by 12.2% during the 2nd quarter. Schneider Capital Management Corp now owns 115,871 shares of the savings and loans company’s stock valued at $3,571,000 after buying an additional 12,575 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Flagstar Bancorp by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,411 shares of the savings and loans company’s stock valued at $536,000 after buying an additional 376 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Flagstar Bancorp during the 2nd quarter valued at $314,000. Finally, State Street Corp grew its stake in shares of Flagstar Bancorp by 5.7% during the 2nd quarter. State Street Corp now owns 426,056 shares of the savings and loans company’s stock valued at $13,130,000 after buying an additional 23,101 shares during the period. 96.30% of the stock is owned by 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.
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