Boenning Scattergood Analysts Increase Earnings Estimates for Flagstar Bancorp Inc (FBC)

Flagstar Bancorp Inc (NYSE:FBC) – Equities research analysts at Boenning Scattergood upped their Q2 2018 earnings estimates for shares of Flagstar Bancorp in a report issued on Wednesday. Boenning Scattergood analyst S. Beury now forecasts that the savings and loans company will post earnings of $0.87 per share for the quarter, up from their previous estimate of $0.70. Boenning Scattergood currently has a “Buy” rating and a $40.00 target price on the stock. Boenning Scattergood also issued estimates for Flagstar Bancorp’s Q3 2018 earnings at $1.02 EPS, FY2018 earnings at $3.32 EPS and FY2019 earnings at $3.93 EPS.

Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings data on Tuesday, October 24th. The savings and loans company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Flagstar Bancorp had a return on equity of 9.77% and a net margin of 14.56%. The business had revenue of $103.00 million for the quarter, compared to the consensus estimate of $100.80 million. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up 28.8% compared to the same quarter last year.

A number of other brokerages have also issued reports on FBC. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 26th. FBR & Co restated a “buy” rating and issued a $42.00 price target (up previously from $35.00) on shares of Flagstar Bancorp in a research note on Wednesday, October 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 target price on shares of Flagstar Bancorp in a research note on Thursday, October 19th. ValuEngine downgraded shares of Flagstar Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, B. Riley reissued a “buy” rating on shares of Flagstar Bancorp in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $39.57.

Shares of Flagstar Bancorp (NYSE:FBC) opened at $37.97 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 4.04. The stock has a market capitalization of $2,190.00, a price-to-earnings ratio of 16.16 and a beta of 1.05. Flagstar Bancorp has a 52-week low of $25.06 and a 52-week high of $38.79.

A number of hedge funds have recently made changes to their positions in FBC. Dimensional Fund Advisors LP boosted its holdings in Flagstar Bancorp by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,249,040 shares of the savings and loans company’s stock valued at $115,276,000 after acquiring an additional 146,882 shares during the last quarter. EJF Capital LLC raised its holdings in shares of Flagstar Bancorp by 57.8% during the 3rd quarter. EJF Capital LLC now owns 1,183,841 shares of the savings and loans company’s stock valued at $42,003,000 after buying an additional 433,841 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Flagstar Bancorp by 6.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 668,071 shares of the savings and loans company’s stock valued at $23,703,000 after buying an additional 38,500 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Flagstar Bancorp by 16.3% during the 2nd quarter. Teachers Advisors LLC now owns 456,739 shares of the savings and loans company’s stock valued at $14,077,000 after buying an additional 63,963 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in Flagstar Bancorp by 121.5% during the second quarter. Federated Investors Inc. PA now owns 443,162 shares of the savings and loans company’s stock valued at $13,658,000 after acquiring an additional 243,052 shares during the last quarter. 97.53% of the stock is owned by institutional investors.

In related news, COO Lee Matthew Smith sold 3,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $36.60, for a total transaction of $109,800.00. Following the completion of the sale, the chief operating officer now directly owns 70,254 shares of the company’s stock, valued at approximately $2,571,296.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 63.00% of the stock is currently owned by company insiders.

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About Flagstar Bancorp

Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. It operates through four segments: Community Banking, Mortgage Originations, Mortgage Servicing, and Other. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.

Earnings History and Estimates for Flagstar Bancorp (NYSE:FBC)

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