Flagstar Bancorp: 3Q Earnings Snapshot
TROY, Mich. (AP) _ Flagstar Bancorp Inc. (FBC) on Wednesday reported third-quarter profit of $222 million.
The Troy, Michigan-based company said it had profit of $3.88 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share.
The holding company for Flagstar Bank posted revenue of $658 million in the period. Its adjusted revenue was $632 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $506 million.
Flagstar Bancorp shares have declined 14% since the beginning of the year. The stock has declined 15% in the last 12 months.
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