Bank of New York Mellon Corp cut its position in shares of Flagstar Bancorp Inc. (NYSE:FBC) by 14.6% during the second quarter, Holdings Channel reports. The institutional investor owned 135,119 shares of the company’s stock after selling 23,081 shares during the period. Bank of New York Mellon Corp owned 0.24% of Flagstar Bancorp worth $3,299,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in Flagstar Bancorp by 7.0% in the first quarter. State Street Corp now owns 341,767 shares of the company’s stock worth $7,335,000 after buying an additional 22,481 shares in the last quarter. BlackRock Group LTD boosted its position in Flagstar Bancorp by 9.0% in the first quarter. BlackRock Group LTD now owns 75,532 shares of the company’s stock worth $1,621,000 after buying an additional 6,247 shares in the last quarter. Nordea Investment Management AB acquired a new position in Flagstar Bancorp during the second quarter worth about $1,451,000. ClariVest Asset Management LLC boosted its position in Flagstar Bancorp by 133,793.1% in the second quarter. ClariVest Asset Management LLC now owns 38,829 shares of the company’s stock worth $948,000 after buying an additional 38,800 shares in the last quarter. Finally, Menta Capital LLC boosted its position in Flagstar Bancorp by 97.2% in the first quarter. Menta Capital LLC now owns 35,300 shares of the company’s stock worth $758,000 after buying an additional 17,400 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.
Flagstar Bancorp Inc. (NYSE:FBC) traded up 0.98% during trading on Friday, hitting $27.75. The stock had a trading volume of 108,321 shares. The company has a 50-day moving average of $27.72 and a 200 day moving average of $24.67. Flagstar Bancorp Inc. has a 52 week low of $17.25 and a 52 week high of $28.26. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 11.86 and a beta of 2.17.
Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 in the prior year, the company earned $0.68 earnings per share. On average, equities research analysts anticipate that Flagstar Bancorp Inc. will post $2.29 EPS for the current year.
A number of research analysts recently issued reports on FBC shares. Zacks Investment Research cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Boenning Scattergood assumed coverage on Flagstar Bancorp in a report on Wednesday, June 29th. They set an “outperform” rating and a $26.50 price objective for the company. FBR & Co reissued a “buy” rating on shares of Flagstar Bancorp in a report on Tuesday, June 28th. Keefe, Bruyette & Woods cut Flagstar Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $26.00 to $27.50 in a report on Wednesday, July 27th. Finally, Sandler O’Neill cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.06.
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. 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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