Flagstar Bancorp Inc (NYSE:FBC) – Equities research analysts at Wedbush upped their Q2 2019 earnings per share (EPS) estimates for Flagstar Bancorp in a note issued to investors on Monday, April 8th, Zacks Investment Research reports. Wedbush analyst H. Coffey now anticipates that the savings and loans company will post earnings per share of $0.89 for the quarter, up from their previous forecast of $0.87. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Flagstar Bancorp’s Q1 2020 earnings at $0.92 EPS and Q3 2020 earnings at $0.99 EPS.
Several other brokerages also recently issued reports on FBC. Zacks Investment Research downgraded shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. ValuEngine downgraded shares of Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Flagstar Bancorp presently has a consensus rating of “Buy” and an average price target of $38.00.
Flagstar Bancorp (NYSE:FBC) last announced its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $235.00 million for the quarter, compared to the consensus estimate of $230.70 million. Flagstar Bancorp had a net margin of 16.38% and a return on equity of 11.60%. During the same quarter last year, the company posted $0.60 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Flagstar Bancorp by 87.7% during the fourth quarter. BlackRock Inc. now owns 4,960,886 shares of the savings and loans company’s stock valued at $130,967,000 after acquiring an additional 2,318,460 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Flagstar Bancorp by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,458,055 shares of the savings and loans company’s stock valued at $117,693,000 after acquiring an additional 216,220 shares during the period. Bayview Asset Management LLC bought a new position in shares of Flagstar Bancorp during the fourth quarter valued at $39,306,000. Teachers Advisors LLC lifted its holdings in shares of Flagstar Bancorp by 6.0% during the third quarter. Teachers Advisors LLC now owns 504,382 shares of the savings and loans company’s stock valued at $15,873,000 after acquiring an additional 28,598 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Flagstar Bancorp by 150.8% during the fourth quarter. Bank of New York Mellon Corp now owns 411,256 shares of the savings and loans company’s stock valued at $10,857,000 after acquiring an additional 247,309 shares during the period. 95.17% of the stock is owned by institutional investors.
Flagstar Bancorp declared that its board has initiated a share buyback plan on Wednesday, January 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the savings and loans company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. Flagstar Bancorp’s payout ratio is presently 5.30%.
About Flagstar Bancorp
Flagstar Bancorp, Inc operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial 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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