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UPDATE: BTIG Research Initiates Flagstar Bancorp at Buy on Potential to Overcome Challenges

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In a report published Wednesday, BTIG Research analyst Mark Palmer initiated coverage on Flagstar Bancorp (NYSE: FBC) with a Buy rating and $18.00 price target.

In the report, BTIG Research noted, “Flagstar Bancorp (FBC) has yet to complete its recovery from the damage it sustained during the financial crisis: it has not repaid the TARP funds it received from the U.S. Treasury during the downturn, still faces legacy costs associated with breaches in representations and warranties (R&Ws) on mortgages it sold into securitizations, and continues to have a high percentage of non-performing loans (NPLs). However, we believe the company's earnings power and other resources appear more than sufficient to allow it to overcome the challenges that remain – and that its shares should appreciate as it does so.”

Flagstar Bancorp closed on Tuesday at $13.24.

Latest Ratings for FBC

DateFirmActionFromTo
Apr 2019DowngradesOverweightNeutral
Jan 2019DowngradesBuyHold
Aug 2018MaintainsBuyBuy

View More Analyst Ratings for FBC
View the Latest Analyst Ratings

Posted-In: BTIG Research Mark PalmerAnalyst Color Initiation Analyst Ratings

 

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