Zacks: Brokerages Expect Flagstar Bancorp Inc (FBC) Will Announce Quarterly Sales of $242.20 Million

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Wall Street brokerages expect that Flagstar Bancorp Inc (NYSE:FBC) will post sales of $242.20 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Flagstar Bancorp’s earnings, with the highest sales estimate coming in at $245.00 million and the lowest estimate coming in at $237.00 million. Flagstar Bancorp reported sales of $233.00 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, October 23rd.

According to Zacks, analysts expect that Flagstar Bancorp will report full year sales of $939.82 million for the current year, with estimates ranging from $933.00 million to $951.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Flagstar Bancorp.

Flagstar Bancorp (NYSE:FBC) last announced its earnings results on Tuesday, July 24th. The savings and loans company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Flagstar Bancorp had a return on equity of 11.13% and a net margin of 7.31%. The firm had revenue of $238.00 million for the quarter, compared to the consensus estimate of $243.68 million.

Several equities analysts recently commented on the company. B. Riley upped their price objective on Flagstar Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. ValuEngine downgraded Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Zacks Investment Research downgraded Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Keefe, Bruyette & Woods upgraded Flagstar Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 27th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $41.00 price objective on shares of Flagstar Bancorp in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Flagstar Bancorp currently has a consensus rating of “Buy” and an average target price of $41.67.

In related news, COO Lee Matthew Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $33.72, for a total value of $101,160.00. Following the transaction, the chief operating officer now owns 93,630 shares in the company, valued at $3,157,203.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 9,000 shares of company stock worth $299,340. 62.90% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of FBC. Wells Fargo & Company MN raised its holdings in Flagstar Bancorp by 232.1% during the 2nd quarter. Wells Fargo & Company MN now owns 241,574 shares of the savings and loans company’s stock valued at $8,277,000 after acquiring an additional 168,839 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Flagstar Bancorp by 40.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 148,459 shares of the savings and loans company’s stock valued at $5,087,000 after acquiring an additional 42,778 shares during the period. Swiss National Bank raised its holdings in Flagstar Bancorp by 36.9% during the 2nd quarter. Swiss National Bank now owns 55,600 shares of the savings and loans company’s stock valued at $1,905,000 after acquiring an additional 15,000 shares during the period. United Services Automobile Association raised its holdings in Flagstar Bancorp by 65.2% during the 2nd quarter. United Services Automobile Association now owns 147,494 shares of the savings and loans company’s stock valued at $5,053,000 after acquiring an additional 58,196 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in Flagstar Bancorp during the 2nd quarter valued at $596,000. Institutional investors and hedge funds own 93.77% of the company’s stock.

Flagstar Bancorp stock traded up $1.49 during trading on Monday, hitting $30.72. The stock had a trading volume of 2,421,981 shares, compared to its average volume of 262,916. Flagstar Bancorp has a 1 year low of $28.18 and a 1 year high of $40.06. The company has a current ratio of 1.29, a quick ratio of 0.86 and a debt-to-equity ratio of 3.81. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 12.44 and a beta of 0.99.

About Flagstar Bancorp

Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial, small business, and consumer banking services to individuals and businesses in the United States. Its Community Banking segment offers various products, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer and commercial loans, commercial real estate loans, equipment finance and leasing, home builder finance loans, and warehouse lines of credit.

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Earnings History and Estimates for Flagstar Bancorp (NYSE:FBC)

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