AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: Craig Shaw
Flagstar Bancorp jumped 3.6% Tuesday for its second straight high-volume gain. The stock is shaping a three-month base after doubling from its February breakout. It closed 13% off its 52-week high.
The Michigan-based banker earlier this month boosted its third-quarter and full-year profit forecasts by 35 cents a share following an August sale of $4.6 billion of mortgage servicing rights. It reported August loan production of $5.5 billion vs. $3.6 billion a year earlier. The bank also raised its quarterly dividend by 50% to 15 cents a share.
Flagstar earns the top Fundamental Rank in its 182-stock Finance-Savings & ...