B. Riley set a $44.00 target price on Flagstar Bancorp (NYSE:FBC) in a report released on Friday morning. The firm currently has a buy rating on the savings and loans company’s stock. B. Riley also issued estimates for Flagstar Bancorp’s Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $3.02 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $1.03 EPS, FY2019 earnings at $3.30 EPS, Q1 2020 earnings at $0.70 EPS, Q2 2020 earnings at $1.06 EPS, Q3 2020 earnings at $1.12 EPS and FY2020 earnings at $3.75 EPS.
A number of other research analysts have also recently commented on FBC. Sandler O’Neill restated a buy rating and issued a $41.00 target price on shares of Flagstar Bancorp in a research note on Thursday, July 26th. Keefe, Bruyette & Woods upgraded Flagstar Bancorp from a market perform rating to an outperform rating in a research note on Wednesday, June 27th. ValuEngine cut Flagstar Bancorp from a hold rating to a sell rating in a research note on Friday, September 14th. Finally, Zacks Investment Research cut Flagstar Bancorp from a hold rating to a sell rating in a research note on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Flagstar Bancorp has a consensus rating of Buy and a consensus target price of $41.43.
Shares of FBC stock traded down $0.18 during trading hours on Friday, reaching $28.52. The company’s stock had a trading volume of 781,613 shares, compared to its average volume of 260,260. The firm has a market cap of $1.81 billion, a P/E ratio of 11.55 and a beta of 0.99. Flagstar Bancorp has a one year low of $28.18 and a one year 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 other news, COO Lee Matthew Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $34.63, for a total value of $103,890.00. Following the completion of the transaction, the chief operating officer now owns 99,330 shares in the company, valued at approximately $3,439,797.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 9,000 shares of company stock valued at $299,340. 62.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Flagstar Bancorp during the first quarter valued at $120,000. NumerixS Investment Technologies Inc purchased a new position in Flagstar Bancorp during the second quarter valued at $159,000. Jane Street Group LLC purchased a new position in Flagstar Bancorp during the first quarter valued at $229,000. Personal Capital Advisors Corp purchased a new position in Flagstar Bancorp during the second quarter valued at $247,000. Finally, Citadel Advisors LLC purchased a new position in Flagstar Bancorp during the first quarter valued at $282,000. Institutional investors own 93.77% 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.
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