Boenning & Scattergood analyst Scott Beury maintained a Buy rating on Flagstar Bancorp (NYSE: FBC) today and set a price target of $41. The company’s shares opened today at $35.07.
Beury commented:
“We believe that clean and consistent quarterly results from the core bank segment is the greatest catalyst for the stock. Our $41 target price is based on a weighted blend of peer multiples and a discounted acquisition analysis.”
According to TipRanks.com, Beury is a 3-star analyst with an average return of 6.9% and a 60.0% success rate. Beury covers the Financial sector, focusing on stocks such as Farmers & Merchants Bancorp, Inc., Old National Bancorp Capital, and Independent Bank Corporation.
Flagstar Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $40.90.
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Based on Flagstar Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $280 million and net profit of $35 million. In comparison, last year the company earned revenue of $263 million and had a net profit of $27 million.
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Flagstar Bancorp, Inc. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Mortgage Originations, Mortgage Servicing, Community Banking, and Other. The Mortgage Originations segment acquires and markets residential mortgage loans.
