First Mercantile Trust Co. lowered its stake in Flagstar Bancorp Inc. (NYSE:FBC) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 4,100 shares of the company’s stock after selling 250 shares during the period. First Mercantile Trust Co.’s holdings in Flagstar Bancorp were worth $100,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC increased its position in Flagstar Bancorp by 133,793.1% in the second quarter. ClariVest Asset Management LLC now owns 38,829 shares of the company’s stock valued at $948,000 after buying an additional 38,800 shares during the last quarter. Strs Ohio increased its position in Flagstar Bancorp by 2.0% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock valued at $739,000 after buying an additional 600 shares during the last quarter. Nordea Investment Management AB purchased a new position in Flagstar Bancorp during the second quarter valued at approximately $1,451,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Flagstar Bancorp by 270.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,100 shares of the company’s stock valued at $271,000 after buying an additional 8,100 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its position in Flagstar Bancorp by 7.9% in the first quarter. Boothbay Fund Management LLC now owns 18,100 shares of the company’s stock valued at $388,000 after buying an additional 1,320 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.
Shares of Flagstar Bancorp Inc. (NYSE:FBC) opened at 27.85 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 11.90 and a beta of 2.10. Flagstar Bancorp Inc. has a 52-week low of $17.25 and a 52-week high of $28.54. The stock has a 50 day moving average price of $27.79 and a 200-day moving average price of $24.99.
Flagstar Bancorp (NYSE:FBC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. Flagstar Bancorp had a return on equity of 12.96% and a net margin of 19.67%. During the same quarter in the previous year, the business earned $0.68 EPS. On average, equities analysts anticipate that Flagstar Bancorp Inc. will post $2.29 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the company. Sandler O’Neill downgraded Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Zacks Investment Research downgraded Flagstar Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. FBR & Co lifted their price target on Flagstar Bancorp from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Keefe, Bruyette & Woods downgraded Flagstar Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $26.00 to $27.50 in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. downgraded Flagstar Bancorp from an “overweight” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Flagstar Bancorp has a consensus rating of “Hold” and a consensus price target of $26.06.
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. The Company operates through three segments: Mortgage Originations, Mortgage Servicing and Community Banking. Through Mortgage Originations segment, it originates, acquires and sells one- to four-family residential mortgage loans.
Want to see what other hedge funds are holding FBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flagstar Bancorp Inc. (NYSE:FBC).
Receive News & Ratings for Flagstar Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.