ValuEngine upgraded shares of Flagstar Bancorp (NYSE:FBC) from a sell rating to a hold rating in a report issued on Monday, February 4th.
A number of other brokerages have also recently issued reports on FBC. Zacks Investment Research raised shares of Flagstar Bancorp from a sell rating to a hold rating in a report on Thursday, October 25th. 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. B. Riley set a $44.00 target price on shares of Flagstar Bancorp and gave the stock a buy rating in a report on Friday, October 12th. Finally, Sandler O’Neill cut shares of Flagstar Bancorp from a buy rating to a hold rating and set a $32.00 target price on the stock. in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Flagstar Bancorp currently has an average rating of Hold and a consensus target price of $39.25.
NYSE:FBC traded down $0.09 during mid-day trading on Monday, reaching $32.57. The stock had a trading volume of 320,844 shares, compared to its average volume of 435,107. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 10.78 and a beta of 1.20. Flagstar Bancorp has a 1-year low of $25.30 and a 1-year high of $38.00. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.76 and a current ratio of 1.10.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. Flagstar Bancorp had a return on equity of 11.75% and a net margin of 16.67%. The business had revenue of $250.00 million during the quarter, compared to the consensus estimate of $235.82 million. During the same period last year, the firm earned $0.60 earnings per share. On average, equities research analysts forecast that Flagstar Bancorp will post 3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.49%.
Flagstar Bancorp announced that its board has authorized a share buyback plan on Wednesday, January 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the savings and loans company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Flagstar Bancorp by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 166,300 shares of the savings and loans company’s stock valued at $4,390,000 after buying an additional 1,500 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Flagstar Bancorp by 709.6% during the fourth quarter. Legal & General Group Plc now owns 73,184 shares of the savings and loans company’s stock valued at $1,933,000 after buying an additional 64,144 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Flagstar Bancorp during the fourth quarter valued at approximately $549,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Flagstar Bancorp during the fourth quarter valued at approximately $224,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Flagstar Bancorp by 366.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,696 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 7,616 shares during the last quarter. 95.17% of the stock is currently owned by institutional investors.
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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