Zacks Investment Research upgraded shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports. The brokerage currently has $32.00 price objective on the savings and loans company’s stock.
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 analysts have also commented on FBC. B. Riley increased their target price on shares of Flagstar Bancorp from $27.00 to $30.00 and gave the company a buy rating in a research note on Thursday, May 7th. Raymond James upgraded Flagstar Bancorp from an outperform rating to a strong-buy rating in a research note on Wednesday, June 17th. Wedbush reduced their price target on Flagstar Bancorp from $40.00 to $35.00 and set an outperform rating for the company in a research report on Friday, April 24th. Finally, ValuEngine cut Flagstar Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $33.40.
Shares of FBC stock opened at $26.81 on Tuesday. The business’s fifty day moving average price is $28.37 and its 200 day moving average price is $29.56. The firm has a market capitalization of $1.55 billion, a PE ratio of 6.75 and a beta of 1.72. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.32 and a quick ratio of 1.00. Flagstar Bancorp has a 1-year low of $16.76 and a 1-year high of $40.00.
Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, April 28th. The savings and loans company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. Flagstar Bancorp had a net margin of 15.48% and a return on equity of 11.85%. The business had revenue of $305.00 million for the quarter, compared to analysts’ expectations of $300.37 million. During the same period in the prior year, the company posted $0.64 EPS. Equities research analysts expect that Flagstar Bancorp will post 3.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. Flagstar Bancorp’s dividend payout ratio is currently 5.78%.
In related news, EVP James Ciroli acquired 1,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were bought at an average cost of $27.32 per share, for a total transaction of $27,320.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 37.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new stake in Flagstar Bancorp during the 4th quarter worth approximately $55,000. PNC Financial Services Group Inc. grew its position in Flagstar Bancorp by 37.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,456 shares of the savings and loans company’s stock worth $55,000 after acquiring an additional 394 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Flagstar Bancorp during the 1st quarter worth approximately $31,000. Macquarie Group Ltd. bought a new stake in Flagstar Bancorp during the 4th quarter worth approximately $63,000. Finally, Point72 Hong Kong Ltd bought a new stake in Flagstar Bancorp during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 96.60% 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 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.
See Also: Call Option Volume
Get a free copy of the Zacks research report on Flagstar Bancorp (FBC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flagstar Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.