Zacks Investment Research lowered shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a sell rating in a research note released on Wednesday.
According to Zacks, “Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB, a federally chartered stock savings bank. Through its retail banking centers and e-commerce distribution channels, Flagstar attracts deposits from the general public. The institution utilizes these deposits, along with other funds garnered from the secondary market, to originate or acquire loans on a nationwide basis. “
Several other research firms have also recently issued reports on FBC. ValuEngine raised shares of Flagstar Bancorp from a sell rating to a hold rating in a report on Monday, February 4th. Wedbush reissued an outperform rating on shares of Flagstar Bancorp in a report on Thursday, January 31st. TheStreet cut shares of Flagstar Bancorp from a b rating to a c+ rating in a report on Friday, November 9th. Sandler O’Neill cut shares of Flagstar Bancorp from a buy rating to a hold rating and set a $32.00 price target for the company. in a report on Friday, January 11th. Finally, Boenning Scattergood reissued a buy rating on shares of Flagstar Bancorp in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $39.25.
NYSE FBC traded down $0.09 during trading hours on Wednesday, hitting $32.57. 320,844 shares of the stock were exchanged, compared to its average volume of 435,107. The stock has a market capitalization of $1.89 billion, a P/E ratio of 10.78 and a beta of 1.20. Flagstar Bancorp has a 12-month low of $25.30 and a 12-month high of $38.00. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 2.48.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $235.82 million. Flagstar Bancorp had a net margin of 16.67% and a return on equity of 11.75%. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts expect that Flagstar Bancorp will post 3.32 earnings per share for the current fiscal year.
Flagstar Bancorp declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the savings and loans company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.16 annualized dividend and a yield of 0.49%.
A number of institutional investors and hedge funds have recently modified their holdings of FBC. Bank of New York Mellon Corp grew its position in Flagstar Bancorp by 14.0% during the second quarter. Bank of New York Mellon Corp now owns 153,114 shares of the savings and loans company’s stock worth $5,246,000 after buying an additional 18,811 shares during the period. Northern Trust Corp grew its position in Flagstar Bancorp by 32.4% during the second quarter. Northern Trust Corp now owns 350,673 shares of the savings and loans company’s stock worth $12,015,000 after buying an additional 85,817 shares during the period. First Trust Advisors LP grew its position in Flagstar Bancorp by 25.8% during the third quarter. First Trust Advisors LP now owns 17,131 shares of the savings and loans company’s stock worth $539,000 after buying an additional 3,517 shares during the period. Acadian Asset Management LLC acquired a new position in Flagstar Bancorp during the third quarter worth about $345,000. Finally, Wells Fargo & Company MN grew its position in Flagstar Bancorp by 14.8% during the third quarter. Wells Fargo & Company MN now owns 277,226 shares of the savings and loans company’s stock worth $8,724,000 after buying an additional 35,652 shares during the period. Institutional investors own 95.17% of the company’s stock.
Flagstar Bancorp Company Profile
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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