Arizona State Retirement System lowered its position in Flagstar Bancorp Inc (NYSE:FBC) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,405 shares of the savings and loans company’s stock after selling 856 shares during the period. Arizona State Retirement System’s holdings in Flagstar Bancorp were worth $1,462,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Bayview Asset Management LLC bought a new position in Flagstar Bancorp in the fourth quarter worth approximately $39,306,000. New York State Teachers Retirement System bought a new position in Flagstar Bancorp in the fourth quarter worth approximately $297,000. PNC Financial Services Group Inc. bought a new position in Flagstar Bancorp in the fourth quarter worth approximately $29,000. State of Alaska Department of Revenue bought a new position in Flagstar Bancorp in the fourth quarter worth approximately $259,000. Finally, MetLife Investment Advisors LLC boosted its holdings in Flagstar Bancorp by 59.9% in the third quarter. MetLife Investment Advisors LLC now owns 20,333 shares of the savings and loans company’s stock worth $640,000 after acquiring an additional 7,616 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.
Several brokerages have issued reports on FBC. Piper Jaffray Companies lowered Flagstar Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $35.00 in a report on Thursday, April 25th. Zacks Investment Research lowered Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Raymond James set a $37.00 price target on Flagstar Bancorp and gave the stock a “buy” rating in a report on Thursday, April 4th. ValuEngine upgraded Flagstar Bancorp from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Finally, TheStreet upgraded Flagstar Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, February 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.00.
Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $235.00 million during the quarter, compared to the consensus estimate of $230.70 million. Flagstar Bancorp had a return on equity of 11.60% and a net margin of 16.38%. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts predict that Flagstar Bancorp Inc will post 3.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, May 31st. Flagstar Bancorp’s dividend payout ratio (DPR) is presently 5.30%.
Flagstar Bancorp announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the savings and loans company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Flagstar Bancorp Company Profile
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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