Zacks Investment Research downgraded shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a sell rating in a research report report published on Monday.
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 equities analysts have also recently weighed in on FBC. ValuEngine raised shares of Flagstar Bancorp from a sell rating to a hold rating in a research note on Monday, February 4th. Wedbush reissued an outperform rating on shares of Flagstar Bancorp in a research note on Thursday, January 31st. Boenning Scattergood reissued a buy rating on shares of Flagstar Bancorp in a research note on Wednesday, October 24th. TheStreet cut shares of Flagstar Bancorp from a b rating to a c+ rating in a research note on Friday, November 9th. Finally, Sandler O’Neill cut shares of Flagstar Bancorp from a buy rating to a hold rating and set a $32.00 target price for the company. in a research note on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $39.25.
Flagstar Bancorp (NYSE:FBC) last released its earnings results on Tuesday, January 22nd. The savings and loans company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Flagstar Bancorp had a net margin of 16.67% and a return on equity of 11.75%. The business had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $235.82 million. During the same period last year, the business earned $0.60 earnings per share. As a group, sell-side analysts anticipate that Flagstar Bancorp will post 3.32 EPS for the current year.
Flagstar Bancorp declared that its board has approved a share buyback program on Wednesday, January 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the savings and loans company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.50%. Flagstar Bancorp’s dividend payout ratio (DPR) is 5.30%.
Hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC boosted its position in Flagstar Bancorp by 6.0% during the third quarter. Teachers Advisors LLC now owns 504,382 shares of the savings and loans company’s stock worth $15,873,000 after purchasing an additional 28,598 shares during the period. Alpine Woods Capital Investors LLC bought a new position in Flagstar Bancorp during the third quarter worth $220,000. Ramsey Quantitative Systems bought a new position in Flagstar Bancorp during the third quarter worth $319,000. United Services Automobile Association boosted its position in Flagstar Bancorp by 1.2% during the third quarter. United Services Automobile Association now owns 149,334 shares of the savings and loans company’s stock worth $4,700,000 after purchasing an additional 1,840 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Flagstar Bancorp by 183.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,425 shares of the savings and loans company’s stock worth $1,839,000 after purchasing an additional 37,825 shares during the period. 95.82% of the stock is owned by hedge funds and other institutional investors.
Flagstar Bancorp Company 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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