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Downgrade Alert for Flagstar Bancorp (FBC)

By Nick Russo

Flagstar Bancorp (NYSE:FBC) was downgraded from Overweight to Neutral at Piper Jaffray today. The stock closed yesterday at $26.30 on volume of 354,000 shares, above average daily volume of 169,000.

Flagstar Bancorp (NYSE:FBC) is currently priced 5.9% above its average consensus analyst price target of $24.75. Flagstar Bancorp shares have support at the 50-day moving average (MA) of $21.49 and additional support at the 200-day MA of $21.27.

Over the past year, Flagstar Bancorp has traded in a range of $17.07 to $27.00 and closed yesterday at $26.30, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 0.5%.

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.

SmarTrend recommended that subscribers consider buying shares of Flagstar Bancorp on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.45. Since that recommendation, shares of Flagstar Bancorp have risen 8.3%. We continue to monitor FBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades flagstar bancorp

Ticker(s): FBC