Shares are trading at $34.73 which is a tad above the 50 day moving average of $32.30 and which is quite a bit above the 200 day moving average of $30.17. The 50 day moving average moved up $2.43 whereas the 200 day moving average was up $4.56 or +15.13%. Trading was light with 8,705 shares changing hands on Wednesday. Trading volume was down 93.93% under the stocks average daily volume.
Short traders are more bearish on shares of the company if you evaluate the change in short interest. The stock had a rise in short interest of 10.59% as of the latest report on August 31, 2017. Short shares increased 69,042 over that period. The short-interest ratio increased to 6.0 and the short interest percentage is 0.01% as of August 31.
These firms have modified their investment in FBC. Allianz Asset Management Gmbh trimmed its investment by shedding 12,214 shares a decrease of 27.4% in the quarter. Allianz Asset Management Gmbh now controls 32,388 shares valued at $1,003,000. The total value of its holdings decreased 20.2%. Piermont Capital Management Inc. cut its stake by selling 16,342 shares a decrease of 20.3% from 03/31/2017 to 06/30/2017. Piermont Capital Management Inc. owns 64,188 shares worth $1,978,000. The value of the position overall is down by 12.9%.
As of the end of the quarter Nuveen Asset Management, LLC had acquired a total of 214,095 shares growing its holdings by 37.0%. The value of the company’s investment in Flagstar Bancorp, Inc. increased from $16,301,000 to $24,420,000 a change of $8,119,000 quarter over quarter. As of quarter end Ubs Group Ag had sold 10,803 shares trimming its position 93.9%. The value of the total investment in Flagstar Bancorp, Inc. went from $324,000 to $21,000 decreasing 93.5% quarter to quarter.
Raymond James began coverage of the stock by announcing an initial rating of “Outperform”.
The company’s P/E ratio is 13.31 and the market value is 1.99B. In the last earnings report the EPS was $2.61 and is projected to be $2.37 for the current year with 57,161,000 shares outstanding. Next quarter’s EPS is expected be $0.51 with next year’s EPS projected to be $2.75.
Flagstar Bancorp, Inc., launched on October 28, 1993, is a savings and loan holding company. The Business’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB (the Bank), a stock savings bank. The Company operates through four segments: Community Banking, Mortgage Originations, Mortgage Servicing, and Other. The Company offers checking accounts, savings accounts, money market accounts, certificates of deposit, other services, consumer loans, commercial loans and warehouse lines of credit. Other financial services available to consumer and commercial customers include lines of credit, revolving credit, customized treasury management solutions, equipment leasing, inventory and accounts receivable..