Analysts Set Expectations for F.N.B. Corp.’s FY2018 Earnings (FNB)
F.N.B. Corp. (NYSE:FNB) – Analysts at Jefferies Group issued their FY2018 earnings estimates for shares of F.N.B. Corp. in a research note issued to investors on Friday. Jefferies Group analyst C. Haire forecasts that the brokerage will post earnings per share of $1.10 for the year. Jefferies Group has a “Buy” rating and a $14.00 price target on the stock.
F.N.B. Corp. (NYSE:FNB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ 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 last year, the company posted $0.22 earnings per share.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of F.N.B. Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of F.N.B. Corp. from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Finally, FBR & Co lowered their price objective 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 report on Friday, July 22nd. One research 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 company presently has a consensus rating of “Hold” and an average target price of $13.80.
Shares of F.N.B. Corp. (NYSE:FNB) traded up 1.398% during mid-day trading on Monday, reaching $12.695. The company had a trading volume of 380,084 shares. F.N.B. Corp. has a one year low of $11.16 and a one year high of $14.66. The stock has a 50 day moving average of $12.29 and a 200-day moving average of $12.65. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 17.343 and a beta of 1.02.
Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of 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 in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of F.N.B. Corp. during the second quarter valued at $26,347,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 valued at $82,262,000 after buying an additional 1,996,847 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of F.N.B. Corp. by 323.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,800,371 shares of the company’s stock valued at $23,423,000 after buying an additional 1,375,285 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of F.N.B. Corp. by 37.0% in the second quarter. FMR LLC now owns 3,873,500 shares of the company’s stock valued at $48,574,000 after buying an additional 1,046,900 shares in the last quarter. 68.51% of the stock is currently owned by institutional investors.
In related news, insider Gary L. Guerrieri bought 4,058 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average price of $12.32 per share, with a total value of $49,994.56. Following the completion of the purchase, the insider now owns 54,622 shares in the company, valued at approximately $672,943.04. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent J. Delie, Jr. bought 5,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $11.97 per share, for a total transaction of $59,850.00. Following the purchase, the chief executive officer now owns 175,054 shares of the company’s stock, valued at approximately $2,095,396.38. The disclosure for this purchase can be found here. Company insiders own 1.63% of the company’s stock.
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 dividend of $0.12 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.83%. F.N.B. Corp.’s payout ratio is presently 64.86%.
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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