whytestocks
6年前
News: $FBC Flagstar Reports Fourth Quarter 2018 Net Income of $54 million, or $0.93 Per Diluted Share
TROY, Mich. , Jan. 22, 2019 /PRNewswire/ -- Key Highlights - Fourth Quarter 2018 Completed Wells Fargo branch acquisition, providing low-cost, stable liquidity for continued banking growth. Results include a $29 million pre-tax benefit for hedging gains recognized in conjuncti...
Find out more https://marketwirenews.com/news-releases/flagstar-reports-fourth-quarter-2018-net-income-of-54-million-or-0-93-per-diluted-share-7411128.html
Ecomike
7年前
This is very close to a correction bottom buy now IMHO. Oversold, and not yet bouncing. Higher interest rates are said to be good for the banks, like this regional one in what was one of the hardest hit markets in 2008-09. Growth should have far less headwind for this regional bank. Dividend news may trigger a wave of buying if they declare a return to paying them, and the PE is very reasonable.
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Ecomike Friday, 11/03/17 04:38:23 PM
Re: Ecomike post# 1323 0
Post # of 1324
Looks like a down day for bank stocks today, perhaps they did not like the home sales news. Over reaching no doubt, due to the hurricanes...Next stop here is $40/share
Ecomike
10年前
We have a huge, early warning, buy the dip Form 4 buy signal (old favorite of SA, regional bank, Might be a call option or just buy more shares, I have been long FBC since 2010),
http://ih.advfn.com/p.php?pid=nmona&article=64166916&symbol=FBC
See the job description of the Officer that just bought shares. First one in years!!!! And the stock murdered the last 6 months on law suit news (BS suit, shorts, and the recent world market panic sell off), so this may be a perfect buy or call option buy?
guster0
11年前
Compass Point analyst Kevin Barker reiterated a Buy rating and raised his price target on Flagstar Bancorp (NYSE: FBC) from $21 to $23 citing several near-term catalysts. The stock was also added to Compass Point's Focus List.
The price target hike take into account higher estimates for book value recovery following the rep/warrants settlement with Freddie Mac and higher fair value (or gains) on mortgage servicing rights.
"With this settlement, FBC has effectively settled the vast majority of rep/warrants claims from the GSEs and screens as having excess rep/warrants reserves," Barker said. "In addition, we expect the company to report either a gain on sale or at least a material markup in the fair value of its mortgage servicing rights during fourth quarter earnings."
He adds, "These two events, should put the company in a better position to report positive earnings in the face mortgage banking headwinds and potentially release the valuation allowance on the deferred tax assets."
The firm is moving 4Q13E GAAP EPS to $0.53 from $1.17 and operating EPS to $0.09 from $0.02. They are also adjusting our FY14E GAAP EPS to $0.89 from $0.44, FY14E operating EPS to $0.54 from $0.08 and FY15E EPS to $0.94 from $0.66.
For an analyst ratings summary and ratings history on Flagstar Bancorp click here. For more ratings news on Flagstar Bancorp click here.
Shares of Flagstar Bancorp closed at $19.73 yesterday, with a 52 week range of $12.29-$19.88.
guster0
11年前
Another settlement and 9 mill out the door
TROY, Mich., Dec. 30, 2013 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar" or the "Company"), the holding company for Flagstar Bank, FSB (the "Bank"), today announced that the Bank has entered into an agreement with the Federal Home Loan Mortgage Corporation ("Freddie Mac") to resolve substantially all of the repurchase requests and obligations associated with loans originated between January 1, 2000 and December 31, 2008 and sold to Freddie Mac.
The total resolution amount is $10.8 million, but after paid claim credits and other adjustments, the Bank will pay $8.9 million to Freddie Mac. The amount of Flagstar's current representation and warranty reserve specific to the loans covered by the agreement is sufficient to cover the payment amount. Less