Flagstar Bancorp, Inc. (NYSE: FBC) shares rose in value on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Piper Jaffray Companies upgraded shares of Flagstar Bancorp, Inc. (NYSE: FBC) from Neutral to Overweight today. Piper Jaffray Companies currently has a rating of Overweight on the stock. The one-year price target of $29.69 is above the opening price of $26.49, that has caused a number of other analysts to issue statements on the company in recent days. Looking back over the last 52 weeks, Flagstar Bancorp, Inc. stock has a high of $29.29. Usually, after analysts publish an upgrade report on a stock, they will later issue periodic updates, such as a price target change.
Shares of Flagstar Bancorp, Inc. (NYSE: FBC) opened at $26.49 yesterday and traded in a range between, $26.34 and $27.80, and last traded at $27.78, which is an increase of $2.04 over the previous closing price.
Flagstar Bancorp, Inc. (NYSE: FBC) now has a market cap of 1.58B.
Flagstar Bancorp, Inc. (NYSE: FBC) Average Daily Trading Volume
The stock’s average daily volume is 208,690 shares out of a total float 20,829,000 and some 79,094 shares traded hands yesterday, 5 percent lower than normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you’re considering.
Flagstar Bancorp, Inc. (NYSE: FBC) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Flagstar Bancorp, Inc. (NYSE: FBC) have ranged from $18.45 – 29.290, and the stock now has a 50-day MA of $26.27 and 200-day MA of $27.25. Today’s last price is 5.17%% under the 52 week high of $29.29.
Earnings growth is a crucial factor to look at when investing in stocks and investors identify companies that have been successful at growing their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.