F.N.B. Corp. (NYSE:FNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “FNB Corporation is a diversified financial services company serving banking, trust, consumer finance and insurance customers through community banking affiliates and other subsidiaries with offices in Florida, Pennsylvania, Ohio and Tennessee. “
Several other analysts have also issued reports on FNB. Jefferies Group reiterated a “buy” rating and set a $14.00 target price on shares of F.N.B. Corp. in a report on Thursday, July 7th. JPMorgan Chase & Co. dropped their target price on F.N.B. Corp. from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Finally, FBR & Co dropped 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 report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.80.
Shares of F.N.B. Corp. (NYSE:FNB) traded up 0.99% during mid-day trading on Friday, hitting $12.30. The stock had a trading volume of 1,349,551 shares. The stock has a 50 day moving average of $12.31 and a 200-day moving average of $12.64. F.N.B. Corp. has a 52 week low of $11.16 and a 52 week high of $14.66. The stock has a market capitalization of $2.56 billion, a P/E ratio of 16.80 and a beta of 1.02.
F.N.B. Corp. (NYSE:FNB) last released its 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 return on equity of 7.60% and a net margin of 18.64%. During the same period in the prior year, the business posted $0.22 EPS. On average, equities research analysts predict that F.N.B. Corp. will post $0.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a yield of 3.90%. F.N.B. Corp.’s dividend payout ratio is 64.86%.
In other F.N.B. Corp. news, CEO Vincent J. Delie, Jr. acquired 5,000 shares of the company’s 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 completion of the purchase, the chief executive officer now directly owns 175,054 shares of the company’s stock, valued at $2,095,396.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Hormell acquired 3,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price 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 $669,579.95. The disclosure for this purchase can be found here. 1.63% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $29,971,000 after buying an additional 185,496 shares in the last quarter. State Street Corp increased its position 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 valued at $122,823,000 after buying an additional 3,440,810 shares during the last quarter. GSA Capital Partners LLP increased its position in F.N.B. Corp. by 121.0% in the second quarter. GSA Capital Partners LLP now owns 44,704 shares of the company’s stock valued at $561,000 after buying an additional 24,475 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in F.N.B. Corp. during the second quarter valued at approximately $670,000. Finally, Metropolitan Life Insurance Co. NY increased its position in F.N.B. Corp. by 169.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 326,860 shares of the company’s stock valued at $4,252,000 after buying an additional 205,635 shares during the last quarter. Hedge funds and other institutional investors own 68.51% 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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