ValuEngine downgraded shares of Flagstar Bank (NYSE:FBC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Flagstar Bank from a strong-buy rating to a hold rating in a research report on Tuesday, February 13th. Boenning Scattergood set a $40.00 price target on Flagstar Bank and gave the stock a buy rating in a research report on Wednesday, December 27th. B. Riley reaffirmed a buy rating and set a $42.00 price target on shares of Flagstar Bank in a research report on Wednesday, December 27th. Finally, Wedbush cut their price target on Flagstar Bank from $45.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, April 12th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $40.29.
Shares of FBC opened at $33.50 on Friday. The stock has a market cap of $1,936.89, a price-to-earnings ratio of 13.56 and a beta of 1.21. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.87 and a current ratio of 1.38. Flagstar Bank has a fifty-two week low of $27.52 and a fifty-two week high of $40.06.
Flagstar Bank (NYSE:FBC) last announced its quarterly earnings results on Tuesday, January 23rd. The savings and loans company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $107.00 million for the quarter, compared to the consensus estimate of $103.91 million. Flagstar Bank had a return on equity of 10.16% and a net margin of 6.32%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. analysts expect that Flagstar Bank will post 3.14 EPS for the current year.
In other news, COO Lee Matthew Smith sold 3,000 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $35.73, for a total transaction of $107,190.00. Following the sale, the chief operating officer now directly owns 69,835 shares of the company’s stock, valued at approximately $2,495,204.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 9,000 shares of company stock worth $327,510. Corporate insiders own 63.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Flagstar Bank during the 3rd quarter worth about $144,000. Teacher Retirement System of Texas purchased a new stake in shares of Flagstar Bank during the 4th quarter worth about $293,000. USA Financial Portformulas Corp purchased a new stake in shares of Flagstar Bank during the 4th quarter worth about $296,000. Macquarie Group Ltd. purchased a new stake in shares of Flagstar Bank during the 3rd quarter worth about $291,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Flagstar Bank during the 4th quarter worth about $342,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.
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About Flagstar Bank
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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