Q3 2020 EPS Estimates for Flagstar Bancorp Inc Lifted by Analyst (NYSE:FBC)

Flagstar Bancorp Inc (NYSE:FBC) – Piper Sandler raised their Q3 2020 earnings per share estimates for Flagstar Bancorp in a research note issued on Tuesday, July 28th. Piper Sandler analyst R. Siefers now expects that the savings and loans company will post earnings per share of $1.18 for the quarter, up from their prior estimate of $0.91. Piper Sandler also issued estimates for Flagstar Bancorp’s Q4 2020 earnings at $1.13 EPS, FY2020 earnings at $5.15 EPS, Q1 2021 earnings at $0.95 EPS, Q2 2021 earnings at $1.12 EPS and FY2021 earnings at $4.03 EPS.

Flagstar Bancorp (NYSE:FBC) last posted its quarterly earnings results on Tuesday, July 28th. The savings and loans company reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.65. The company had revenue of $168.00 million during the quarter, compared to analyst estimates of $146.17 million. Flagstar Bancorp had a net margin of 16.78% and a return on equity of 15.43%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share.

A number of other equities analysts have also weighed in on the stock. Wedbush cut their target price on shares of Flagstar Bancorp from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. B. Riley increased their target price on shares of Flagstar Bancorp from $33.00 to $41.00 in a research report on Wednesday. ValuEngine lowered shares of Flagstar Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Tuesday, July 7th. Finally, Raymond James increased their target price on shares of Flagstar Bancorp from $35.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.40.

Shares of NYSE:FBC opened at $31.38 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $1.78 billion, a PE ratio of 6.35 and a beta of 1.72. Flagstar Bancorp has a twelve month low of $16.76 and a twelve month high of $40.00. The company has a 50-day moving average price of $28.40 and a two-hundred day moving average price of $28.56.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Flagstar Bancorp in the first quarter worth about $31,000. Nisa Investment Advisors LLC purchased a new stake in shares of Flagstar Bancorp in the first quarter worth about $58,000. PNC Financial Services Group Inc. lifted its holdings in shares of Flagstar Bancorp by 112.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,097 shares of the savings and loans company’s stock worth $60,000 after buying an additional 1,641 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Flagstar Bancorp in the fourth quarter worth about $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Flagstar Bancorp by 41.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the savings and loans company’s stock worth $71,000 after buying an additional 1,058 shares in the last quarter. 96.57% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, August 31st. Flagstar Bancorp’s payout ratio is 5.78%.

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

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