Wall Street brokerages predict that Flagstar Bancorp Inc (NYSE:FBC) will announce sales of $235.62 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Flagstar Bancorp’s earnings, with estimates ranging from $230.00 million to $252.00 million. Flagstar Bancorp posted sales of $231.00 million in the same quarter last year, which suggests a positive year over year growth rate of 2%. The business is expected to announce its next earnings results on Tuesday, January 22nd.
According to Zacks, analysts expect that Flagstar Bancorp will report full year sales of $924.22 million for the current fiscal year, with estimates ranging from $916.00 million to $951.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $1.03 billion, with estimates ranging from $989.00 million to $1.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Flagstar Bancorp.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings results on Tuesday, October 23rd. The savings and loans company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company had revenue of $231.00 million for the quarter, compared to analysts’ expectations of $242.20 million. Flagstar Bancorp had a return on equity of 11.79% and a net margin of 7.89%. During the same period in the prior year, the firm earned $0.70 earnings per share.
Several equities research analysts recently weighed in on FBC shares. ValuEngine cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. B. Riley set a $44.00 price target on Flagstar Bancorp and gave the stock a “buy” rating in a research note on Friday, October 12th. Boenning Scattergood reaffirmed a “buy” rating on shares of Flagstar Bancorp in a research note on Wednesday, October 24th. Zacks Investment Research cut Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $41.00 price target on shares of Flagstar Bancorp in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.50.
Shares of FBC stock opened at $31.59 on Thursday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 12.79 and a beta of 0.89. Flagstar Bancorp has a twelve month low of $28.18 and a twelve month high of $40.06. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.86 and a current ratio of 1.29.
In related news, CEO Alessandro Dinello bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were purchased at an average cost of $29.08 per share, with a total value of $29,080.00. Following the completion of the purchase, the chief executive officer now owns 191,359 shares in the company, valued at approximately $5,564,719.72. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Lee Matthew Smith sold 3,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $31.43, for a total value of $94,290.00. Following the completion of the sale, the chief operating officer now directly owns 90,630 shares in the company, valued at $2,848,500.90. The disclosure for this sale can be found here. Corporate insiders own 62.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBC. Wells Fargo & Company MN grew its stake in shares of Flagstar Bancorp by 55.9% in the first quarter. Wells Fargo & Company MN now owns 72,735 shares of the savings and loans company’s stock worth $2,576,000 after acquiring an additional 26,067 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Flagstar Bancorp during the first quarter valued at $229,000. Legal & General Group Plc lifted its holdings in shares of Flagstar Bancorp by 57.8% during the first quarter. Legal & General Group Plc now owns 8,349 shares of the savings and loans company’s stock valued at $295,000 after purchasing an additional 3,059 shares in the last quarter. Personal Capital Advisors Corp bought a new position in shares of Flagstar Bancorp during the second quarter valued at $247,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Flagstar Bancorp during the second quarter valued at $706,000. 93.78% of the stock is currently 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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