ClariVest Asset Management LLC raised its holdings in shares of Flagstar Bancorp Inc (NYSE:FBC) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 166,318 shares of the savings and loans company’s stock after buying an additional 1,480 shares during the quarter. ClariVest Asset Management LLC’s holdings in Flagstar Bancorp were worth $4,390,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Flagstar Bancorp by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,241,835 shares of the savings and loans company’s stock valued at $133,490,000 after acquiring an additional 208,584 shares during the period. BlackRock Inc. lifted its stake in shares of Flagstar Bancorp by 13.9% in the 3rd quarter. BlackRock Inc. now owns 2,642,426 shares of the savings and loans company’s stock valued at $83,158,000 after purchasing an additional 322,665 shares during the period. EJF Capital LLC lifted its stake in shares of Flagstar Bancorp by 6.4% in the 3rd quarter. EJF Capital LLC now owns 1,672,968 shares of the savings and loans company’s stock valued at $52,648,000 after purchasing an additional 100,293 shares during the period. Teachers Advisors LLC lifted its stake in shares of Flagstar Bancorp by 6.0% in the 3rd quarter. Teachers Advisors LLC now owns 504,382 shares of the savings and loans company’s stock valued at $15,873,000 after purchasing an additional 28,598 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Flagstar Bancorp by 32.4% in the 2nd quarter. Northern Trust Corp now owns 350,673 shares of the savings and loans company’s stock valued at $12,015,000 after purchasing an additional 85,817 shares during the period. Institutional investors and hedge funds own 95.82% of the company’s stock.
Several research firms recently issued reports on FBC. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. ValuEngine upgraded shares of Flagstar Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. TheStreet cut shares of Flagstar Bancorp from a “b” rating to a “c+” rating in a research note on Friday, November 9th. Boenning Scattergood reiterated a “buy” rating on shares of Flagstar Bancorp in a research note on Thursday, January 31st. Finally, Wedbush reiterated an “outperform” rating on shares of Flagstar Bancorp in a research note on Thursday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.25.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $250.00 million during the quarter, compared to analyst estimates of $235.82 million. Flagstar Bancorp had a net margin of 16.67% and a return on equity of 11.75%. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities research analysts expect that Flagstar Bancorp Inc will post 3.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, February 28th. Flagstar Bancorp’s payout ratio is presently 5.30%.
Flagstar Bancorp announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the savings and loans company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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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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