Flagstar Bancorp (NYSE:FBC) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a buy rating in a report released on Monday morning, Zacks.com reports. The brokerage currently has $38.00 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. “

FBC has been the subject of a number of other research reports. Raymond James reaffirmed a buy rating on shares of Teck Resources in a report on Thursday, April 4th. ValuEngine raised shares of Vanda Pharmaceuticals from a hold rating to a buy rating in a report on Friday, March 29th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $760.00 price target (up previously from $755.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Flagstar Bancorp has a consensus rating of Buy and an average price target of $37.20.

FBC opened at $33.30 on Monday. The firm’s 50-day moving average is $32.17. Flagstar Bancorp has a 52 week low of $25.30 and a 52 week high of $36.16. The company has a market cap of $1.90 billion, a P/E ratio of 11.03 and a beta of 1.23. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 0.76.

Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Flagstar Bancorp had a net margin of 16.38% and a return on equity of 11.60%. The business had revenue of $235.00 million during the quarter, compared to the consensus estimate of $230.70 million. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, analysts forecast that Flagstar Bancorp will post 3.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, May 31st. Flagstar Bancorp’s payout ratio is 5.30%.

Large investors have recently made changes to their positions in the stock. Royce & Associates LP bought a new position in shares of Flagstar Bancorp in the 1st quarter valued at about $40,000. PNC Financial Services Group Inc. purchased a new stake in Flagstar Bancorp in the 4th quarter worth about $29,000. RDA Financial Network purchased a new stake in Flagstar Bancorp in the 1st quarter worth about $336,000. BlackRock Inc. raised its position in Flagstar Bancorp by 87.7% in the 4th quarter. BlackRock Inc. now owns 4,960,886 shares of the savings and loans company’s stock worth $130,967,000 after purchasing an additional 2,318,460 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Flagstar Bancorp in the 4th quarter worth about $6,299,000. 98.56% 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 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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Analyst Recommendations for Flagstar Bancorp (NYSE:FBC)

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