Flagstar Bank Q3 adj EPS misses expectations

Flagstar Bank, National Association

Yesterday 11:14

Overview
US regional bank's Q3 revenue rose and beat analyst expectations, adjusted EPS missed
Company completed $250 mln share buyback

Outlook
Company now expects to achieve long-term strategic objectives in 2028, delayed from 2027

Result Drivers
NET INTEREST INCOME - Co said higher net interest income and margin expansion drove operating performance
LOAN AND DEPOSIT GROWTH - Co attributed results to growth in commercial and industrial loans and deposits
CREDIT COSTS - Co said higher provision for credit losses was driven by rising interest rates and NYC rent regulation impact

Company press release: ID:nPn5VXfvfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$530 mln
$487.77 mln (16 Analysts)
Q3 Adjusted EPS
Miss
$0.01
$0.08 (18 Analysts)
Q3 EPS
 
$0.01
 
Q3 Net Income
 
$3 mln
 
Q3 Net Interest Income
 
$460 mln
 
Q3 Credit Loss Provision
 
$76 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Flagstar Bank, National Association is $16.00, about 39.8% above its October 22 closing price of $11.44
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
Oct 20 - Ally Financial Q3 adjusted revenue beats estimates
Oct 22 - Customers Bancorp Q3 net income rises on higher net interest income, deposit growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)