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FBK

FB Financial

$43.48

-0.525 (-1.19%)

, HMST

HomeStreet

$27.90

-0.6 (-2.11%)

09:01
09/25/18
09/25
09:01
09/25/18
09:01

FB Financial guidance may add caution about mortgage heavy banks, says Stephens

Stephens analyst Tyler Stafford noted that FB Financial (FBK) has lowered its mortgage expectations for the second half of the year, which he sees being driven by softer volumes than originally expected coupled with incremental GOS margin pressure. Stafford thinks FB Financial's guidance may make investors incrementally more cautious around other mortgage heavy banks, he tells investors. On a list of banks with the largest GOS mortgage exposures as a percentage of revenue as of Q2 2018, Stafford identifies HomeStreet (HMST), Hilltop Holdings (HTH), Fidelity Southern (LION) and Flagstar Bancorp (FBC) alongside FB Financial.

FBK

FB Financial

$43.48

-0.525 (-1.19%)

HMST

HomeStreet

$27.90

-0.6 (-2.11%)

HTH

Hilltop Holdings

$20.56

-0.5 (-2.37%)

LION

Fidelity Southern

$25.18

-0.4 (-1.56%)

FBC

Flagstar Bancorp

$31.32

-0.67 (-2.09%)

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    Sep

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    Oct

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    Nov

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    Nov

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    Nov

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    Dec

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    Dec

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    Dec

FBK FB Financial
$43.48

-0.525 (-1.19%)

03/22/18
UBSW
03/22/18
INITIATION
Target $44
UBSW
Neutral
FB Financial initiated with a Neutral at UBS
UBS analyst Brock Vandervliet started FB Financial with a Neutral rating and $44 price target. The analyst rolled out coverage last night on the Mid-Cap Banks. He sees performance differentiation "playing out more starkly" than investors may expect with "increasingly advantaged and disadvantaged participants."
10/10/17
RAJA
10/10/17
INITIATION
Target $41
RAJA
Outperform
FB Financial initiated with an Outperform at Raymond James
Raymond James initiated FB Financial with an Outperform and $41 price target.
HMST HomeStreet
$27.90

-0.6 (-2.11%)

01/24/18
KBWI
01/24/18
DOWNGRADE
Target $32
KBWI
Market Perform
HomeStreet downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Jacquelynne Bohlen downgraded HomeStreet to Market Perform and lowered her price target for the shares to $32 from $34. The analyst cites valuation as she believes the company's near-term transformation is already reflected in the shares.
04/25/18
DADA
04/25/18
NO CHANGE
Target $28
DADA
Neutral
HomeStreet price target lowered to $28 from $34 at DA Davidson
DA Davidson analyst Jeff Rulis lowered his price target on HomeStreet to $28 after the company's Q1 earnings miss, saying it is another "step back" for its mortgage lending business amid declining loan origination volume and compressed gain on sale margins. The analyst points to "strong" credit quality statistics but also notes net interest margins contracting for the 2nd straight quarter, keeping his Neutral rating on HomeStreet,
01/24/18
DADA
01/24/18
NO CHANGE
Target $34
DADA
Neutral
HomeStreet price target raised to $34 from $30 at DA Davidson
DA Davidson analyst Jeff Rulis raised his price target on HomeStreet to $34 after in-line Q4 earnings and revenues, noting the bank's higher than expected operating expenses, 13% decrease in expected seasonal mortgage, and below-guidance net interest margins. Despite the softer metrics, Rulis says he is raising his price target on the lower anticipated tax rate, while also keeping his Neutral rating on HomeStreet.
06/11/18
RILY
06/11/18
UPGRADE
Target $35
RILY
Buy
HomeStreet upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Steve Moss upgraded HomeStreet to Buy and raised his price target for the shares to $35 from $30. The analyst sees a favorable risk/reward at current valuation levels.
HTH Hilltop Holdings
$20.56

-0.5 (-2.37%)

07/31/18
COMP
07/31/18
UPGRADE
COMP
Buy
Hilltop Holdings upgraded to Buy from Neutral at Compass Point
Compass Point analyst Chris Gamaitoni upgraded Hilltop Holdings to Buy with a $25 price target saying valuation reflects mortgage pressures.
05/14/18
COMP
05/14/18
DOWNGRADE
COMP
Neutral
Hilltop Holdings downgraded to Neutral from Buy at Compass Point
01/29/18
SPHN
01/29/18
DOWNGRADE
Target $28
SPHN
Equal Weight
Hilltop Holdings downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Matt Olney downgraded Hilltop Holdings to Equal Weight from Overweight after lowering his 2018 and 2019 EPS estimates following more conservative guidance on lower PAA income, a higher effective tax rate than he expected and increased pressure on GOS margin. Olney maintains a $28 price target on Hilltop Holdings shares.
LION Fidelity Southern
$25.18

-0.4 (-1.56%)

09/07/18
09/07/18
UPGRADE
Target $31

Overweight
Stephens ups Fidelity Southern to Overweight with profitability seen at trough
As previously reported, Stephens analyst Tyler Stafford upgraded Fidelity Southern to Overweight from Equal Weight, as he thinks the bank's profitability is at a trough and should inflect on a path to $2.00 of EPS and a 1.00% ROA in 2020. The analyst, who also highlights the bank's 93% core deposit base and "scarcity value," raised his price target on Fidelity Southern shares to $31 from $25.
09/07/18
SPHN
09/07/18
UPGRADE
SPHN
Overweight
Fidelity Southern upgraded to Overweight from Equal Weight at Stephens
FBC Flagstar Bancorp
$31.32

-0.67 (-2.09%)

06/27/18
KBWI
06/27/18
UPGRADE
Target $43
KBWI
Outperform
Flagstar Bancorp upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Bose George upgraded Flagstar Bancorp (FBC) to Outperform and raised its price target to $43 from $42 following the acquisition of 52 Wells Fargo (WFC) branches saying shares trade at a modest discount to the company's historical average. George raised forward estimates to reflect lower funding costs, partially offset by a weaker environment for mortgage banking, but believes the company has shown it can generate reasonably good mortgage banking returns even in a challenging market. .
05/14/18
COMP
05/14/18
UPGRADE
COMP
Buy
Flagstar Bancorp upgraded to Buy from Neutral at Compass Point
04/12/18
WEDB
04/12/18
NO CHANGE
Target $40
WEDB
Outperform
Flagstar Bancorp price target lowered to $40 from $45 at Wedbush
Wedbush analyst Henry Coffey lowered his price target for Flagstar Bancorp to $40 from $45 to reflect the impact of lower expected origination volumes and lower gain on sale margins. The analyst reiterates an Outperform rating on the shares.
06/07/18
SDLR
06/07/18
UPGRADE
SDLR
Buy
Flagstar Bancorp upgraded to Buy from Hold at Sandler O'Neill

TODAY'S FREE FLY STORIES

IDYA

IDEAYA Biosciences

$0.00

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CNX

CNX Resources

$7.56

-0.26 (-3.32%)

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AZZ

AZZ Inc.

$43.62

(0.00%)

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GSK

GlaxoSmithKline

$39.97

-0.22 (-0.55%)

10:45
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GSK to change sales representative incentive program »

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RTLR

Rattler Midstream

$0.00

(0.00%)

10:43
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Syndicate
Breaking Syndicate news story on Rattler Midstream »

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  • 23

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XLE

Energy Select Sector SPDR

$61.29

-2.23 (-3.51%)

10:40
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Options
Massive ratio put spread in Energy SPDR ETF adjust profitable position »

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ACAD

Acadia

$24.78

-0.33 (-1.31%)

, ALKS

Alkermes

$24.44

-0.61 (-2.44%)

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Conference/Events
JPMorgan biotech analysts to hold an analyst/industry conference call »

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ITCI

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$13.49

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NBIX

Neurocrine

$78.73

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SAGE

Sage Therapeutics

$173.51

-1.49 (-0.85%)

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IDYA

IDEAYA Biosciences

$0.00

(0.00%)

10:37
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10:37
Syndicate
IDEAYA Biosciences indicated to open at $14, IPO priced at $10 »

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  • 23

    May

CZR

Caesars

$8.96

-0.155 (-1.70%)

10:35
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Options
Caesars put volume heavy and directionally bearish »

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10:30
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General news
EIA natural gas storage change for week ending May 17 »

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RTLR

Rattler Midstream

$0.00

(0.00%)

10:25
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Syndicate
Breaking Syndicate news story on Rattler Midstream »

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  • 23

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10:25
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Conference/Events
JPMorgan TMT analyst to hold an Analyst/Industry conference call »

TMT Sector Specialist…

AGR

Avangrid

$50.37

-0.04 (-0.08%)

10:23
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Avangrid Renewables announces new wind contract with Dairyland »

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  • 04

    Jun

AMX

America Movil, also tag AMOV

$14.15

-0.19 (-1.33%)

10:20
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Options
Call buyer opens a notable new position in American Movil »

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RTLR

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$0.00

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$NSD

NASDAQ Market Internals

$0.00

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10:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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SUNW

Sunworks

$0.68

0.0226 (3.42%)

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RTLR

Rattler Midstream

$0.00

(0.00%)

, FANG

Diamondback Energy

$102.97

-5.9 (-5.42%)

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Syndicate
Rattler Midstream indicated to open at $17.50, IPO priced at $17.50 »

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RTLR

Rattler Midstream

$0.00

(0.00%)

FANG

Diamondback Energy

$102.97

-5.9 (-5.42%)

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TSLA

Tesla

$197.24

5.85 (3.06%)

10:15
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Periodicals
Musk says Tesla produced 900 Model 3s per day this week, Reuters reports »

Tesla has produced 900…

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