Flagstar Bancorp (FBC) Sees Large Volume Increase

Flagstar Bancorp Inc (NYSE:FBC) shares saw unusually-strong trading volume on Friday . Approximately 2,421,981 shares traded hands during mid-day trading, an increase of 794% from the previous session’s volume of 270,786 shares.The stock last traded at $30.72 and had previously closed at $29.23.

A number of equities analysts have recently issued reports on FBC shares. B. Riley set a $44.00 target price on Flagstar Bancorp and gave the stock a “buy” rating in a report on Friday, October 12th. Keefe, Bruyette & Woods raised Flagstar Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 27th. ValuEngine cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Zacks Investment Research cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, Sandler O’Neill reissued a “buy” rating and issued a $41.00 target price on shares of Flagstar Bancorp in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Flagstar Bancorp currently has an average rating of “Buy” and a consensus price target of $41.43.

The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 3.81. The firm has a market capitalization of $1.71 billion, a PE ratio of 12.42 and a beta of 0.99.

Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 24th. The savings and loans company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. Flagstar Bancorp had a return on equity of 11.13% and a net margin of 7.31%. The business had revenue of $238.00 million during the quarter, compared to analysts’ expectations of $243.68 million. Equities research analysts anticipate that Flagstar Bancorp Inc will post 3.05 EPS for the current year.

In related news, COO Lee Matthew Smith sold 3,000 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $33.72, for a total transaction of $101,160.00. Following the sale, the chief operating officer now directly owns 93,630 shares in the company, valued at approximately $3,157,203.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 9,000 shares of company stock worth $299,340. 62.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBC. Millennium Management LLC grew its position in Flagstar Bancorp by 13,039.2% during the 2nd quarter. Millennium Management LLC now owns 843,798 shares of the savings and loans company’s stock worth $28,909,000 after acquiring an additional 837,376 shares during the last quarter. BlackRock Inc. grew its position in Flagstar Bancorp by 50.1% during the 2nd quarter. BlackRock Inc. now owns 2,319,761 shares of the savings and loans company’s stock worth $79,474,000 after acquiring an additional 774,298 shares during the last quarter. EJF Capital LLC grew its position in Flagstar Bancorp by 48.8% during the 2nd quarter. EJF Capital LLC now owns 1,572,675 shares of the savings and loans company’s stock worth $53,880,000 after acquiring an additional 515,678 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Flagstar Bancorp by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,033,251 shares of the savings and loans company’s stock worth $138,181,000 after acquiring an additional 345,602 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Flagstar Bancorp by 36.5% during the 2nd quarter. Renaissance Technologies LLC now owns 992,112 shares of the savings and loans company’s stock worth $33,990,000 after acquiring an additional 265,100 shares during the last quarter. Institutional investors and hedge funds own 93.77% of the company’s stock.

About Flagstar Bancorp (NYSE:FBC)

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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