Flagstar Bancorp Q1 Profit Tops Estimates

(RTTNews) - Flagstar Bancorp, Inc. (FBC), the holding company for Flagstar Bank, reported first quarter net income of $149 million, or $2.80 per share, compared to net income of $46 million, or $0.80 per share, last year. On an adjusted basis, net income was $176 million, or $3.31 per share, for the first quarter 2021. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $2.63, for the quarter. Analysts' estimates typically exclude special items. Net interest income increased to $189 million from $148 million, prior year.

Flagstar Bancorp, Inc. announced its board has declared a quarterly cash dividend of $0.06 per share on its common stock. The dividend will be payable June 15, 2021, to shareholders of record at the close of business June 1, 2021.

Shares of Flagstar Bancorp were up 4% in pre-market trade on Monday.