Zacks Investment Research Lowers Flagstar Bancorp (NYSE:FBC) to Hold

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Zacks Investment Research lowered shares of Flagstar Bancorp (NYSE:FBC) from a buy rating to a hold rating in a research report sent to investors on Wednesday, reports.

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. “

A number of other analysts have also recently weighed in on FBC. ValuEngine raised Vanda Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, March 29th. 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 research report on Thursday, April 25th. Finally, Raymond James reaffirmed a buy rating on shares of Teck Resources in a research report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $37.20.

FBC opened at $33.52 on Wednesday. Flagstar Bancorp has a one year low of $25.30 and a one year high of $36.16. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. The stock has a fifty day moving average price of $32.22. The company has a market cap of $1.89 billion, a P/E ratio of 11.10 and a beta of 1.23.

Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Flagstar Bancorp had a return on equity of 11.60% and a net margin of 16.38%. The company had revenue of $235.00 million for the quarter, compared to the consensus estimate of $230.70 million. During the same quarter in the previous year, the business earned $0.60 EPS. Research analysts expect that Flagstar Bancorp will post 3.32 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new position in shares of Flagstar Bancorp in the 4th quarter valued at $29,000. Royce & Associates LP bought a new position in Flagstar Bancorp during the first quarter worth about $40,000. Campbell & CO Investment Adviser LLC bought a new position in Flagstar Bancorp during the first quarter worth about $217,000. Municipal Employees Retirement System of Michigan bought a new position in Flagstar Bancorp during the fourth quarter worth about $224,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Flagstar Bancorp by 151.9% during the first quarter. BNP Paribas Arbitrage SA now owns 6,854 shares of the savings and loans company’s stock worth $226,000 after purchasing an additional 4,133 shares during the period. Institutional investors and hedge funds own 98.56% 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: Treasury Bonds

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