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Flagstar Bancorp Inc (NYSE:FBC) Expected to Announce Quarterly Sales of $506.03 Million

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Brokerages expect Flagstar Bancorp Inc (NYSE:FBC) to report $506.03 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Flagstar Bancorp's earnings, with the lowest sales estimate coming in at $495.50 million and the highest estimate coming in at $522.00 million. Flagstar Bancorp reported sales of $317.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 59.6%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 21st.

On average, analysts expect that Flagstar Bancorp will report full year sales of $1.79 billion for the current fiscal year, with estimates ranging from $1.78 billion to $1.81 billion. For the next financial year, analysts anticipate that the business will post sales of $1.47 billion, with estimates ranging from $1.42 billion to $1.52 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side analysts that follow Flagstar Bancorp.

Flagstar Bancorp (NYSE:FBC) last issued its earnings results on Tuesday, July 28th. The savings and loans company reported $2.03 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.38 by $0.65. Flagstar Bancorp had a return on equity of 15.43% and a net margin of 16.78%. The firm had revenue of $168.00 million for the quarter, compared to analysts' expectations of $146.17 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year.

FBC has been the topic of a number of research analyst reports. Zacks Investment Research cut Flagstar Bancorp from a "strong-buy" rating to a "sell" rating in a research note on Wednesday, September 30th. TheStreet upgraded Flagstar Bancorp from a "c+" rating to a "b-" rating in a research note on Thursday, September 17th. B. Riley boosted their price objective on Flagstar Bancorp from $33.00 to $41.00 in a research note on Wednesday, July 29th. Finally, Raymond James restated a "buy" rating on shares of Flagstar Bancorp in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock has a consensus rating of "Hold" and a consensus price target of $37.40.

Shares of Flagstar Bancorp stock opened at $31.75 on Friday. Flagstar Bancorp has a twelve month low of $16.76 and a twelve month high of $40.00. The stock has a market capitalization of $1.81 billion, a P/E ratio of 6.43 and a beta of 1.73. The company has a current ratio of 1.24, a quick ratio of 0.83 and a debt-to-equity ratio of 2.56. The business's fifty day moving average price is $30.93 and its 200 day moving average price is $27.98.

In other news, Director David J. Matlin sold 6,900,000 shares of Flagstar Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $30.05, for a total transaction of $207,345,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Ciroli bought 2,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $30.41 per share, for a total transaction of $60,820.00. The disclosure for this purchase can be found here. 37.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FBC. Victory Capital Management Inc. increased its holdings in 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 valued at $4,823,000 after buying an additional 230,987 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Flagstar Bancorp by 22.4% in the first quarter. Parametric Portfolio Associates LLC now owns 138,951 shares of the savings and loans company's stock valued at $2,755,000 after buying an additional 25,384 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Flagstar Bancorp by 100.0% in the first quarter. Alliancebernstein L.P. now owns 167,320 shares of the savings and loans company's stock valued at $3,318,000 after buying an additional 83,660 shares during the last quarter. Legal & General Group Plc increased its holdings in Flagstar Bancorp by 1.1% in the first quarter. Legal & General Group Plc now owns 98,801 shares of the savings and loans company's stock valued at $1,959,000 after buying an additional 1,049 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Flagstar Bancorp by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,344 shares of the savings and loans company's stock valued at $344,000 after buying an additional 5,657 shares during the last quarter.

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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