Prudential Financial Inc. raised its position in shares of Flagstar Bancorp Inc. (NYSE:FBC) by 20.3% during the second quarter, Holdings Channel reports. The firm owned 268,850 shares of the company’s stock after buying an additional 45,280 shares during the period. Prudential Financial Inc. owned approximately 0.48% of Flagstar Bancorp worth $6,562,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in FBC. Virginia Retirement System purchased a new position in shares of Flagstar Bancorp during the first quarter worth approximately $412,000. Nordea Investment Management AB purchased a new position in shares of Flagstar Bancorp during the second quarter worth approximately $1,451,000. Menta Capital LLC boosted its position in shares of 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. Nationwide Fund Advisors boosted its position in shares of Flagstar Bancorp by 3.5% in the second quarter. Nationwide Fund Advisors now owns 245,588 shares of the company’s stock worth $5,995,000 after buying an additional 8,316 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Flagstar Bancorp by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,323,858 shares of the company’s stock worth $56,725,000 after buying an additional 177,044 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Shares of Flagstar Bancorp Inc. (NYSE:FBC) opened at 27.85 on Monday. The firm has a 50 day moving average price of $27.79 and a 200 day moving average price of $24.99. Flagstar Bancorp Inc. has a 12-month low of $17.25 and a 12-month high of $28.54. The stock has a market cap of $1.58 billion, a PE ratio of 11.90 and a beta of 2.10.
Flagstar Bancorp (NYSE:FBC) last posted its earnings results on Tuesday, July 26th. The company reported $0.66 EPS 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 last year, the business posted $0.68 earnings per share. On average, equities analysts expect that Flagstar Bancorp Inc. will post $2.29 EPS for the current year.
FBC has been the topic of a number of recent research reports. Zacks Investment Research cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Sandler O’Neill cut Flagstar Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 23rd. Boenning Scattergood initiated coverage on Flagstar Bancorp in a research report on Wednesday, June 29th. They set an “outperform” rating and a $26.50 price target on the stock. FBR & Co reaffirmed a “buy” rating on shares of Flagstar Bancorp in a research report on Tuesday, June 28th. Finally, Keefe, Bruyette & Woods cut Flagstar Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $26.00 to $27.50 in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus 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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