Flagstar Bancorp: 4Q Earnings Snapshot
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.
Flagstar Bancorp shares have climbed 11% since the beginning of the year. The stock has risen 21% in the last 12 months.