JPMorgan Chase & Co. reduced its stake in shares of F.N.B. Corp. (NYSE:FNB) by 62.7% during the second quarter, Holdings Channel reports. The fund owned 461,320 shares of the company’s stock after selling 774,171 shares during the period. JPMorgan Chase & Co. owned about 0.22% of F.N.B. Corp. worth $5,785,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its stake in F.N.B. Corp. by 57.3% in the first quarter. State Street Corp now owns 9,440,981 shares of the company’s stock worth $122,823,000 after buying an additional 3,440,810 shares in the last quarter. Neuberger Berman Group LLC raised its stake in F.N.B. Corp. by 2.0% in the second quarter. Neuberger Berman Group LLC now owns 7,687,072 shares of the company’s stock worth $96,396,000 after buying an additional 148,788 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in F.N.B. Corp. by 46.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,322,966 shares of the company’s stock worth $82,262,000 after buying an additional 1,996,847 shares in the last quarter. Hamlin Capital Management LLC raised its stake in F.N.B. Corp. by 8.4% in the second quarter. Hamlin Capital Management LLC now owns 2,390,004 shares of the company’s stock worth $29,971,000 after buying an additional 185,496 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in F.N.B. Corp. during the second quarter worth about $26,347,000. Hedge funds and other institutional investors own 68.51% of the company’s stock.
Shares of F.N.B. Corp. (NYSE:FNB) traded up 0.281% during mid-day trading on Wednesday, hitting $12.505. 211,103 shares of the company were exchanged. F.N.B. Corp. has a 12-month low of $11.16 and a 12-month high of $14.66. The stock has a market cap of $2.61 billion, a PE ratio of 17.083 and a beta of 1.02. The stock’s 50-day moving average price is $12.31 and its 200 day moving average price is $12.65.
F.N.B. Corp. (NYSE:FNB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.02. F.N.B. Corp. had a net margin of 18.64% and a return on equity of 7.60%. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts anticipate that F.N.B. Corp. will post $0.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, August 30th. F.N.B. Corp.’s payout ratio is 64.86%.
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of F.N.B. Corp. in a research note on Saturday, July 9th. Zacks Investment Research lowered shares of F.N.B. Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group restated a “buy” rating and issued a $14.00 price target on shares of F.N.B. Corp. in a research note on Thursday, July 7th. Finally, FBR & Co dropped their price target on shares of F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating for the company in a research note on Friday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $13.80.
In related news, CEO Vincent J. Delie, Jr. bought 5,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were purchased at an average price of $11.97 per share, with a total value of $59,850.00. Following the completion of the purchase, the chief executive officer now owns 175,054 shares of the company’s stock, valued at approximately $2,095,396.38. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert A. Hormell bought 3,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $37,050.00. Following the purchase, the director now directly owns 54,217 shares of the company’s stock, valued at approximately $669,579.95. The disclosure for this purchase can be found here. 1.63% of the stock is owned by company insiders.
F.N.B. Corp. Company Profile
F.N.B. Corporation is a financial holding company. The Company operates through four segments: Community Banking, Wealth Management, Insurance and Consumer Finance. Its Community Banking segment consists of First National Bank of Pennsylvania (FNBPA), which offers services, including commercial and individual demand, savings and time deposit accounts and commercial, mortgage and individual installment loans.
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