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Flagstar Bancorp: 4Q Earnings Snapshot

January 21, 2021 GMT

TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Thursday reported fourth-quarter net income of $154 million.

On a per-share basis, the Troy, Michigan-based company said it had net income of $2.83.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.

The holding company for Flagstar Bank posted revenue of $549 million in the period. Its adjusted revenue was $526 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $497.7 million.

For the year, the company reported profit of $538 million, or $9.52 per share. Revenue was reported as $2.01 billion.

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Flagstar Bancorp shares have climbed 11% since the beginning of the year. The stock has risen 21% 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