Tuesday, January 07, 2014 6:14:52 PM
Flagstar made a top pick at Compass Point
Jan 7 2014, 09:22
The deal with Freddie Mac means Flagstar (FBC) has effectively settled the vast majority of its rep and warranty claims with the GSEs and will likely be shown to have over-reserved for them, says analyst Kevin Barker, who also expects the bank to report either a gain on sale or material mark-up in the value of its MSRs in Q4.
"These two events, should put the company in a better position to report positive earnings in the face mortgage banking headwinds and potentially release the valuation allowance on the deferred tax assets."
The stock is added to Compass Point's Focus List and the price target is upped to $23 fro
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM