Bank of America Corp DE Has $3.29 Million Position in Flagstar Bancorp, Inc. (FBC)

Bank of America Corp DE increased its position in shares of Flagstar Bancorp, Inc. (NYSE:FBC) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 116,669 shares of the savings and loans company’s stock after buying an additional 3,079 shares during the period. Bank of America Corp DE’s holdings in Flagstar Bancorp were worth $3,289,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp raised its stake in Flagstar Bancorp by 6.2% in the fourth quarter. State Street Corp now owns 401,195 shares of the savings and loans company’s stock worth $10,808,000 after buying an additional 23,286 shares during the last quarter. FMR LLC bought a new stake in Flagstar Bancorp during the fourth quarter worth approximately $374,000. Guggenheim Capital LLC raised its stake in Flagstar Bancorp by 1.9% in the fourth quarter. Guggenheim Capital LLC now owns 39,331 shares of the savings and loans company’s stock worth $1,059,000 after buying an additional 737 shares during the last quarter. Teachers Advisors LLC raised its stake in Flagstar Bancorp by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 31,190 shares of the savings and loans company’s stock worth $840,000 after buying an additional 595 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Flagstar Bancorp by 8.6% in the first quarter. Wells Fargo & Company MN now owns 31,162 shares of the savings and loans company’s stock worth $878,000 after buying an additional 2,469 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Flagstar Bancorp, Inc. (FBC) traded down 0.58% during mid-day trading on Friday, reaching $32.42. The company’s stock had a trading volume of 73,879 shares. The company has a market capitalization of $1.85 billion, a PE ratio of 12.43 and a beta of 0.87. The firm’s 50 day moving average is $30.95 and its 200-day moving average is $28.89. Flagstar Bancorp, Inc. has a 52-week low of $25.06 and a 52-week high of $33.44.

Flagstar Bancorp (NYSE:FBC) last announced its earnings results on Tuesday, July 25th. The savings and loans company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.09. The company had revenue of $97 million for the quarter, compared to analyst estimates of $87.95 million. Flagstar Bancorp had a return on equity of 10.29% and a net margin of 16.52%. Flagstar Bancorp’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. Analysts forecast that Flagstar Bancorp, Inc. will post $2.36 EPS for the current year.

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A number of analysts recently commented on FBC shares. Zacks Investment Research lowered Flagstar Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Wedbush raised Flagstar Bancorp from a “neutral” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Wednesday, April 26th. FBR & Co reaffirmed an “outperform” rating on shares of Flagstar Bancorp in a research note on Tuesday, April 25th. TheStreet raised Flagstar Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Finally, ValuEngine lowered Flagstar Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Flagstar Bancorp currently has a consensus rating of “Buy” and a consensus target price of $35.25.

About Flagstar Bancorp

Flagstar Bancorp, Inc is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. It operates through four segments: Community Banking, Mortgage Originations, Mortgage Servicing, and Other. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.

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