Deutsche Bank AG increased its stake in shares of Flagstar Bank (NYSE:FBC) by 97.9% in the 4th quarter, Holdings Channel reports. The firm owned 196,219 shares of the savings and loans company’s stock after purchasing an additional 97,080 shares during the period. Deutsche Bank AG’s holdings in Flagstar Bank were worth $7,340,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Flagstar Bank during the 4th quarter worth about $1,347,000. Chartwell Investment Partners LLC grew its stake in Flagstar Bank by 69.2% during the 4th quarter. Chartwell Investment Partners LLC now owns 154,015 shares of the savings and loans company’s stock valued at $5,763,000 after acquiring an additional 63,015 shares in the last quarter. California Public Employees Retirement System grew its stake in Flagstar Bank by 35.5% during the 3rd quarter. California Public Employees Retirement System now owns 27,367 shares of the savings and loans company’s stock valued at $971,000 after acquiring an additional 7,167 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Flagstar Bank by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,249,040 shares of the savings and loans company’s stock valued at $115,276,000 after acquiring an additional 146,882 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in Flagstar Bank during the 3rd quarter valued at about $291,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
In other news, COO Lee Matthew Smith sold 3,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.96, for a total value of $107,880.00. Following the completion of the sale, the chief operating officer now owns 72,835 shares of the company’s stock, valued at approximately $2,619,146.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 9,000 shares of company stock valued at $327,510. Corporate insiders own 63.00% of the company’s stock.
Shares of NYSE FBC opened at $35.15 on Friday. Flagstar Bank has a 12-month low of $27.52 and a 12-month high of $40.06. The stock has a market cap of $2,066.43, a P/E ratio of 14.23 and a beta of 1.21. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.38 and a quick ratio of 0.87.
Flagstar Bank (NYSE:FBC) last posted its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Flagstar Bank had a net margin of 6.32% and a return on equity of 10.16%. The business had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $103.91 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. equities analysts forecast that Flagstar Bank will post 3.24 earnings per share for the current year.
Several brokerages recently issued reports on FBC. B. Riley reaffirmed a “buy” rating on shares of Flagstar Bank in a research note on Friday, March 2nd. ValuEngine raised shares of Flagstar Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Boenning Scattergood set a $40.00 price objective on shares of Flagstar Bank and gave the company a “buy” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of Flagstar Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.57.
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Flagstar Bank 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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