Flagstar Bancorp Inc (NYSE:FBC) Expected to Announce Earnings of $2.28 Per Share

Wall Street analysts forecast that Flagstar Bancorp Inc (NYSE:FBC) will announce earnings per share of $2.28 for the current quarter, according to Zacks. Three analysts have provided estimates for Flagstar Bancorp’s earnings. The highest EPS estimate is $2.73 and the lowest is $1.75. Flagstar Bancorp posted earnings per share of $1.11 in the same quarter last year, which would suggest a positive year-over-year growth rate of 105.4%. The firm is expected to announce its next earnings results before the market opens on Wednesday, October 21st.

On average, analysts expect that Flagstar Bancorp will report full-year earnings of $6.60 per share for the current financial year, with EPS estimates ranging from $6.24 to $7.15. For the next year, analysts anticipate that the business will report earnings of $4.28 per share, with EPS estimates ranging from $4.12 to $4.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Flagstar Bancorp.

Flagstar Bancorp (NYSE:FBC) last issued its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $2.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.65. The business 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 company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday. Raymond James reissued a “buy” rating on shares of Flagstar Bancorp in a research report on Wednesday, September 9th. B. Riley increased their price objective on shares of Flagstar Bancorp from $33.00 to $41.00 in a research report on Wednesday, July 29th. Finally, TheStreet raised shares of Flagstar Bancorp from a “c+” rating to a “b-” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.20.

In other Flagstar Bancorp news, EVP James Ciroli acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $30.41 per share, with a total value of $60,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Matlin sold 6,900,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $30.05, for a total transaction of $207,345,000.00. The disclosure for this sale can be found here. Company insiders own 37.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FBC. Victory Capital Management Inc. boosted its holdings in shares of Flagstar Bancorp by 1,890.7% in the first quarter. Victory Capital Management Inc. now owns 243,204 shares of the savings and loans company’s stock worth $4,823,000 after buying an additional 230,987 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Flagstar Bancorp by 22.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 138,951 shares of the savings and loans company’s stock worth $2,755,000 after acquiring an additional 25,384 shares during the period. Alliancebernstein L.P. raised its stake in Flagstar Bancorp by 100.0% during the 1st quarter. Alliancebernstein L.P. now owns 167,320 shares of the savings and loans company’s stock worth $3,318,000 after acquiring an additional 83,660 shares during the period. Legal & General Group Plc raised its stake in Flagstar Bancorp by 1.1% during the 1st quarter. Legal & General Group Plc now owns 98,801 shares of the savings and loans company’s stock worth $1,959,000 after acquiring an additional 1,049 shares during the period. Finally, Wellington Management Group LLP raised its stake in Flagstar Bancorp by 26.5% during the 1st quarter. Wellington Management Group LLP now owns 1,895,258 shares of the savings and loans company’s stock worth $37,583,000 after acquiring an additional 397,256 shares during the period.

FBC stock traded down $0.32 during trading on Friday, hitting $32.48. 22,768 shares of the stock traded hands, compared to its average volume of 403,232. Flagstar Bancorp has a 1 year low of $16.76 and a 1 year high of $40.00. The firm’s 50 day moving average is $30.97 and its two-hundred day moving average is $28.22. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 6.73 and a beta of 1.73. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.24 and a quick ratio of 0.83.

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.

See Also: How to use beta for portfolio diversification

Get a free copy of the Zacks research report on Flagstar Bancorp (FBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.