KBW Revises Estimates, Price Target In Light of Flagstar Reverse Stock Split (FBC)

Keefe, Bruyette, & Woods adjusted its EPS estimates and price target downwards for Flagstar Bancorp FBC. Flagstar recently completed a 1-for-10 reverse stock split. Flagstar is a savings & loan based primarily in Michigan. FBC is one of the largest mortgage originators in the United States. KBW analysts Bose George and Jade Rahmani adjusted their price target to $5.00 after the reverse stock split. This is 1.2x their estimate for 2011 year end book value. FBC is rated Market Perform. It is currently trading at $3.81.