Flagstar Bank (FBC) Expected to Post Earnings of $0.85 Per Share

Brokerages predict that Flagstar Bank (NYSE:FBC) will report earnings of $0.85 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Flagstar Bank’s earnings. The highest EPS estimate is $0.88 and the lowest is $0.82. Flagstar Bank reported earnings of $0.71 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The business is scheduled to issue its next earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that Flagstar Bank will report full-year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $3.00 to $3.18. For the next year, analysts expect that the firm will post earnings of $3.50 per share, with EPS estimates ranging from $3.35 to $3.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Flagstar Bank.

A number of brokerages recently commented on FBC. B. Riley reaffirmed a “buy” rating on shares of Flagstar Bank in a research report on Friday, March 2nd. Compass Point raised Flagstar Bank from a “neutral” rating to a “buy” rating in a research report on Monday. ValuEngine downgraded Flagstar Bank from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Boenning Scattergood reaffirmed a “buy” rating on shares of Flagstar Bank in a research report on Wednesday, April 25th. Finally, Wedbush decreased their target price on Flagstar Bank from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, April 12th. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Flagstar Bank currently has an average rating of “Buy” and a consensus target price of $40.29.

In other Flagstar Bank news, COO Lee Matthew Smith sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $34.58, for a total value of $103,740.00. Following the completion of the sale, the chief operating officer now directly owns 71,911 shares of the company’s stock, valued at $2,486,682.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 9,000 shares of company stock valued at $318,810 over the last three months. Company insiders own 62.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FBC. Dimensional Fund Advisors LP increased its position in Flagstar Bank by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,687,649 shares of the savings and loans company’s stock worth $130,543,000 after buying an additional 203,616 shares during the last quarter. Renaissance Technologies LLC increased its position in Flagstar Bank by 30.3% in the fourth quarter. Renaissance Technologies LLC now owns 662,012 shares of the savings and loans company’s stock worth $24,772,000 after buying an additional 153,800 shares during the last quarter. Nuveen Asset Management LLC increased its position in Flagstar Bank by 12.3% in the first quarter. Nuveen Asset Management LLC now owns 1,175,117 shares of the savings and loans company’s stock worth $41,599,000 after buying an additional 128,297 shares during the last quarter. Mackay Shields LLC purchased a new stake in Flagstar Bank in the first quarter worth $3,556,000. Finally, JPMorgan Chase & Co. increased its position in Flagstar Bank by 89.8% in the first quarter. JPMorgan Chase & Co. now owns 210,160 shares of the savings and loans company’s stock worth $7,440,000 after buying an additional 99,441 shares during the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

Shares of FBC traded up $0.03 on Thursday, reaching $34.18. 226,300 shares of the company’s stock traded hands, compared to its average volume of 202,472. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.84 and a beta of 1.24. Flagstar Bank has a 52-week low of $34.13 and a 52-week high of $34.51.

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

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