Flagstar Bancorp (FBC) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of Flagstar Bancorp (NYSE:FBC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Several other research firms also recently weighed in on FBC. Sandler O’Neill reiterated a buy rating and issued a $41.00 target price on shares of Flagstar Bancorp in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a sell rating to a hold rating in a research note on Thursday, October 25th. B. Riley set a $44.00 target price on shares of Flagstar Bancorp and gave the stock a buy rating in a research note on Friday, October 12th. Finally, Boenning Scattergood reiterated a buy rating on shares of Flagstar Bancorp in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $41.50.

Shares of FBC traded up $0.16 during trading hours on Thursday, hitting $31.25. The company’s stock had a trading volume of 364,329 shares, compared to its average volume of 859,911. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 10.78 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 3.81. Flagstar Bancorp has a 52-week low of $28.18 and a 52-week high of $40.06.

Flagstar Bancorp (NYSE:FBC) last posted its earnings results on Tuesday, October 23rd. The savings and loans company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $231.00 million during the quarter, compared to the consensus estimate of $242.20 million. Flagstar Bancorp had a net margin of 7.89% and a return on equity of 11.79%. During the same quarter last year, the company earned $0.70 earnings per share. On average, sell-side analysts expect that Flagstar Bancorp will post 3.02 earnings per share for the current fiscal year.

In other news, COO Lee Matthew Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $31.43, for a total value of $94,290.00. Following the completion of the transaction, the chief operating officer now directly owns 90,630 shares in the company, valued at $2,848,500.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alessandro Dinello acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was purchased at an average price of $29.08 per share, with a total value of $29,080.00. Following the completion of the transaction, the chief executive officer now directly owns 191,359 shares of the company’s stock, valued at approximately $5,564,719.72. The disclosure for this purchase can be found here. 62.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc bought a new stake in Flagstar Bancorp during the second quarter valued at approximately $159,000. SG Americas Securities LLC lifted its position in Flagstar Bancorp by 57.8% during the second quarter. SG Americas Securities LLC now owns 5,370 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 1,967 shares during the last quarter. Jane Street Group LLC bought a new stake in Flagstar Bancorp during the first quarter valued at approximately $229,000. Personal Capital Advisors Corp bought a new stake in Flagstar Bancorp during the second quarter valued at approximately $247,000. Finally, Legal & General Group Plc lifted its position in 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 during the last quarter. Institutional investors own 93.79% of the company’s stock.

About Flagstar Bancorp

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.

Read More: What Is An Exchange-Traded Fund (ETF)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Flagstar Bancorp (NYSE:FBC)

Receive News & Ratings for Flagstar Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply