Carret Asset Management LLC boosted its stake in F.N.B. Corporation (NYSE:FNB) by 22.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,589 shares of the bank’s stock after purchasing an additional 9,325 shares during the period. Carret Asset Management LLC’s holdings in F.N.B. were worth $724,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in FNB. Public Employees Retirement Association of Colorado increased its stake in F.N.B. by 24.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 51,947 shares of the bank’s stock worth $736,000 after purchasing an additional 10,102 shares during the period. Great West Life Assurance Co. Can increased its stake in F.N.B. by 2.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 195,540 shares of the bank’s stock worth $2,766,000 after purchasing an additional 4,725 shares during the period. World Asset Management Inc increased its stake in F.N.B. by 2.8% in the 2nd quarter. World Asset Management Inc now owns 20,381 shares of the bank’s stock worth $289,000 after purchasing an additional 558 shares during the period. Sei Investments Co. increased its stake in F.N.B. by 257.7% in the 2nd quarter. Sei Investments Co. now owns 381,607 shares of the bank’s stock worth $5,404,000 after purchasing an additional 274,929 shares during the period. Finally, Retirement Systems of Alabama increased its stake in F.N.B. by 133.8% in the 2nd quarter. Retirement Systems of Alabama now owns 967,226 shares of the bank’s stock worth $13,696,000 after purchasing an additional 553,510 shares during the period. 76.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on FNB shares. ValuEngine raised F.N.B. from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Jefferies Group reissued a “buy” rating and set a $18.00 target price on shares of F.N.B. in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.00 target price on shares of F.N.B. in a research note on Tuesday, October 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $15.00 target price on shares of F.N.B. in a research note on Friday, October 20th. Finally, Zacks Investment Research raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $17.39.
F.N.B. (NYSE:FNB) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. F.N.B. had a return on equity of 6.81% and a net margin of 19.95%. The company had revenue of $291.38 million for the quarter, compared to analyst estimates of $299.47 million. During the same period in the previous year, the company posted $0.24 earnings per share. research analysts predict that F.N.B. Corporation will post 0.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, November 30th. F.N.B.’s payout ratio is currently 62.34%.
In other news, insider Robert M. Moorehead acquired 5,000 shares of F.N.B. stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average price of $13.46 per share, for a total transaction of $67,300.00. Following the completion of the transaction, the insider now owns 25,312 shares in the company, valued at $340,699.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank C. Mencini acquired 2,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, November 8th. The shares were purchased at an average price of $12.93 per share, with a total value of $25,860.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 8,500 shares of company stock worth $113,350. Corporate insiders own 1.21% of the company’s stock.
F.N.B. 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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