Flagstar Bancorp: 2Q Earnings Snapshot
Posted July 28, 2020 6:47 am.
Last Updated July 28, 2020 6:54 am.
This article is more than 5 years old.
TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Tuesday reported second-quarter net income of $116 million.
On a per-share basis, the Troy, Michigan-based company said it had profit of $2.03.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The holding company for Flagstar Bank posted revenue of $579 million in the period. Its adjusted revenue was $546 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $403 million.
Flagstar Bancorp shares have declined 25% since the beginning of the year. The stock has declined 16% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBC at https://www.zacks.com/ap/FBC
The Associated Press
