Sandler O’Neill downgraded shares of Flagstar Bancorp Inc. (NYSE:FBC) from a buy rating to a hold rating in a report released on Friday morning, The Fly reports.
A number of other research firms have also issued reports on FBC. Piper Jaffray Cos. lowered Flagstar Bancorp from an overweight rating to a neutral rating and set a $27.00 target price on the stock. in a research note on Wednesday, July 27th. FBR & Co upped their target price on Flagstar Bancorp from $28.00 to $30.00 and gave the company an outperform rating in a research note on Wednesday, July 27th. Keefe, Bruyette & Woods lowered Flagstar Bancorp from an outperform rating to a market perform rating and increased their price target for the stock from $26.00 to $27.50 in a research note on Wednesday, July 27th. Zacks Investment Research raised Flagstar Bancorp from a hold rating to a buy rating and set a $27.00 price target on the stock in a research note on Friday, June 3rd. Finally, Boenning Scattergood began coverage on Flagstar Bancorp in a research note on Wednesday, June 29th. They set an outperform rating and a $26.50 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $26.06.
Shares of Flagstar Bancorp (NYSE:FBC) opened at 27.54 on Friday. Flagstar Bancorp has a 52 week low of $17.25 and a 52 week high of $28.26. The firm has a market capitalization of $1.56 billion, a PE ratio of 11.77 and a beta of 2.17. The stock has a 50 day moving average price of $27.71 and a 200-day moving average price of $24.63.
Flagstar Bancorp (NYSE:FBC) last posted its earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. Flagstar Bancorp had a return on equity of 12.96% and a net margin of 19.67%. During the same period last year, the company posted $0.68 EPS. Equities analysts anticipate that Flagstar Bancorp will post $2.29 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio raised its position in shares of Flagstar Bancorp by 2.0% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock valued at $739,000 after buying an additional 600 shares during the period. Nordea Investment Management AB purchased a new position in shares of Flagstar Bancorp during the second quarter valued at $1,451,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Flagstar Bancorp by 270.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,100 shares of the company’s stock valued at $271,000 after buying an additional 8,100 shares during the period. Boothbay Fund Management LLC raised its position in shares of Flagstar Bancorp by 7.9% in the first quarter. Boothbay Fund Management LLC now owns 18,100 shares of the company’s stock valued at $388,000 after buying an additional 1,320 shares during the period. Finally, A.R.T. Advisors LLC raised its position in shares of Flagstar Bancorp by 1.5% in the first quarter. A.R.T. Advisors LLC now owns 26,470 shares of the company’s stock valued at $568,000 after buying an additional 400 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Flagstar Bancorp Company Profile
Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. The Company operates through three segments: Mortgage Originations, Mortgage Servicing and Community Banking. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
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