Flagstar Bancorp misses Street 4Q forecasts
Flagstar Bancorp misses 4Q net income and revenue expectations
TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Tuesday reported fourth-quarter net income of $28 million.
The Troy, Michigan-based company said it had profit of 49 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The holding company for Flagstar Bank posted revenue of $209 million in the period. Its adjusted revenue was $185 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $196.1 million.
For the year, the company reported profit of $171 million, or $2.66 per share. Revenue was reported as $810 million.
Flagstar Bancorp shares have dropped slightly more than 4 percent since the beginning of the year. The stock has risen 32 percent 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
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Keywords: Flagstar Bancorp, Earnings Report
