Louisiana State Employees Retirement System reduced its position in F.N.B. Corp. (NYSE:FNB) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,500 shares of the company’s stock after selling 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in F.N.B. Corp. were worth $696,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of FNB. Bank of Montreal Can bought a new position in F.N.B. Corp. during the second quarter worth $237,000. Trust Co. of Toledo NA OH bought a new position in F.N.B. Corp. during the second quarter worth $139,000. Oakbrook Investments LLC bought a new position in F.N.B. Corp. during the second quarter worth $214,000. Parametrica Management Ltd bought a new position in F.N.B. Corp. during the second quarter worth $237,000. Finally, LS Investment Advisors LLC raised its position in F.N.B. Corp. by 75.2% in the second quarter. LS Investment Advisors LLC now owns 12,557 shares of the company’s stock worth $157,000 after buying an additional 5,389 shares during the period. 68.51% of the stock is currently owned by hedge funds and other institutional investors.
F.N.B. Corp. (NYSE:FNB) traded up 0.24% during midday trading on Wednesday, hitting $12.50. The company had a trading volume of 1,252,059 shares. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 17.08 and a beta of 1.02. The stock has a 50 day moving average of $12.31 and a 200 day moving average of $12.65. F.N.B. Corp. has a 52-week low of $11.16 and a 52-week high of $14.66.
F.N.B. Corp. (NYSE:FNB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.19 earnings per share 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 previous year, the company earned $0.22 earnings per share. On average, analysts anticipate that F.N.B. Corp. will post $0.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.84%. The ex-dividend date was Tuesday, August 30th. F.N.B. Corp.’s payout ratio is currently 64.86%.
A number of equities analysts have weighed in on FNB shares. Jefferies Group reissued a “buy” rating and set a $14.00 price objective on shares of F.N.B. Corp. in a research note on Thursday, July 7th. Zacks Investment Research raised F.N.B. Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. FBR & Co reduced their target price on F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating on the stock in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. reduced their target price on F.N.B. Corp. from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. F.N.B. Corp. presently has an average rating of “Hold” and a consensus target price of $13.80.
In related news, CEO Vincent J. Delie, Jr. bought 5,000 shares of the stock in a transaction on Friday, July 29th. The shares were purchased at an average price of $11.97 per share, for a total transaction of $59,850.00. Following the acquisition, the chief executive officer now owns 175,054 shares in the company, valued at $2,095,396.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Hormell bought 3,000 shares of the stock in a transaction on Monday, August 8th. The shares were bought at an average price of $12.35 per share, for a total transaction of $37,050.00. Following the acquisition, the director now owns 54,217 shares in the company, valued at approximately $669,579.95. The disclosure for this purchase can be found here. Company insiders own 1.63% of the company’s stock.
About F.N.B. Corp.
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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