F.N.B. Corp. (FNB) Lowered to “Hold” at Zacks Investment Research
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. “
Separately, FBR & Co lifted their target price on F.N.B. Corp. from $13.00 to $14.00 and gave the stock a mkt perform rating in a research report on Friday, October 21st.
F.N.B. Corp. (NYSE:FNB) opened at 14.67 on Thursday. F.N.B. Corp. has a 12-month low of $11.16 and a 12-month high of $14.89. The company has a market cap of $3.06 billion, a P/E ratio of 19.38 and a beta of 0.85. The firm’s 50-day moving average price is $12.98 and its 200-day moving average price is $12.68.
F.N.B. Corp. (NYSE:FNB) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. F.N.B. Corp. had a return on equity of 7.73% and a net margin of 18.98%. During the same period last year, the firm earned $0.22 EPS. Analysts expect that F.N.B. Corp. will post $0.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Tuesday, November 29th. F.N.B. Corp.’s payout ratio is 63.16%.
In related news, Director John S. Stanik acquired 2,150 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were bought at an average cost of $12.77 per share, with a total value of $27,455.50. Following the completion of the acquisition, the director now owns 26,279 shares of the company’s stock, valued at $335,582.83. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in F.N.B. Corp. during the third quarter worth $28,390,000. Citadel Advisors LLC increased its position in shares of F.N.B. Corp. by 1,754.5% in the third quarter. Citadel Advisors LLC now owns 2,329,956 shares of the company’s stock valued at $28,659,000 after buying an additional 2,204,316 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of F.N.B. Corp. during the second quarter valued at approximately $26,347,000. Hamlin Capital Management LLC increased its position in shares of F.N.B. Corp. by 80.1% in the third quarter. Hamlin Capital Management LLC now owns 4,304,769 shares of the company’s stock valued at $52,949,000 after buying an additional 1,914,765 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of F.N.B. Corp. during the third quarter valued at approximately $19,000,000. 69.11% of the stock is currently owned by institutional investors.
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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