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Shares of Flagstar Bancorp Rise Above Previous 52-Week High

By Nick Russo

Shares of Flagstar Bancorp (NYSE:FBC) traded at a new 52-week high today of $25.37. So far today approximately 51,000 shares have been exchanged, as compared to an average 30-day volume of 169,000 shares.

Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB. The Bank attracts deposits from the general public and originates or acquires residential mortgage loans. Flagstar also originates consumer, commercial real estate, and non-real estate commercial loans and it operates predominantly in Michigan and Indiana, as well as throughout the United States.

Flagstar Bancorp (NYSE:FBC) defies analysts with a current price ($25.19) 1.7% above its average consensus price target of $24.75. The stock should find initial support at its 50-day moving average (MA) of $21.49 and further support at its 200-day MA of $21.27.

In the past 52 weeks, Flagstar Bancorp share prices have been bracketed by a low of $17.07 and a high of $25.37 and are now at $25.19, 48% above that low price. The 200-day and 50-day moving averages have moved 0.49% higher and 1.62% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Flagstar Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Flagstar Bancorp in search of a potential trend change.

Keywords: 52 week high/lows flagstar bancorp

Ticker(s): FBC