F.N.B. Corp. (FNB) Rating Lowered to Hold at Zacks Investment Research
F.N.B. Corp. (NYSE:FNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
Other analysts have also recently issued reports about the company. Jefferies Group reiterated a “buy” rating and issued a $14.00 price objective on shares of F.N.B. Corp. in a research note on Thursday, July 7th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of F.N.B. Corp. in a research note on Saturday, July 9th. Finally, FBR & Co reduced their price objective on F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating on the stock in a research note on Friday, July 22nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $13.80.
Shares of F.N.B. Corp. (NYSE:FNB) opened at 12.16 on Friday. F.N.B. Corp. has a 1-year low of $11.16 and a 1-year high of $14.66. The firm’s 50-day moving average price is $12.31 and its 200 day moving average price is $12.62. The stock has a market cap of $2.53 billion, a P/E ratio of 16.61 and a beta of 1.02.
F.N.B. Corp. (NYSE:FNB) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.19 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 previous year, the business earned $0.22 EPS. On average, equities analysts expect that F.N.B. Corp. will post $0.79 earnings per share for the current fiscal year.
In other news, CEO Vincent J. Delie, Jr. bought 5,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $11.97 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the chief executive officer now owns 175,054 shares of the company’s stock, valued at $2,095,396.38. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary L. Guerrieri bought 4,058 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $12.32 per share, for a total transaction of $49,994.56. Following the transaction, the insider now directly owns 54,622 shares of the company’s stock, valued at approximately $672,943.04. The disclosure for this purchase can be found here. 1.63% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of FNB. State Street Corp boosted 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 during the period. Emerald Acquisition Ltd. purchased a new stake in F.N.B. Corp. during the second quarter worth approximately $26,347,000. BlackRock Institutional Trust Company N.A. boosted 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 during the period. Goldman Sachs Group Inc. boosted its stake in 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 worth $23,423,000 after buying an additional 1,375,285 shares during the period. Finally, FMR LLC boosted its stake in F.N.B. Corp. by 37.0% in the second quarter. FMR LLC now owns 3,873,500 shares of the company’s stock worth $48,574,000 after buying an additional 1,046,900 shares during the period. Institutional investors and hedge funds own 68.65% 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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