F.N.B. Corporation (FNB) Shares Bought by Financial Advantage Inc.
Financial Advantage Inc. boosted its stake in F.N.B. Corporation (NYSE:FNB) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 452,920 shares of the bank’s stock after purchasing an additional 2,858 shares during the period. F.N.B. Corporation makes up approximately 5.4% of Financial Advantage Inc.’s holdings, making the stock its 5th largest position. Financial Advantage Inc. owned about 0.14% of F.N.B. Corporation worth $6,413,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of FNB. Tyers Asset Management LLC grew its position in F.N.B. Corporation by 5.5% in the 1st quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock worth $101,000 after purchasing an additional 352 shares during the period. Ffcm LLC bought a new stake in F.N.B. Corporation in the 2nd quarter worth approximately $114,000. Israel Discount Bank of New York bought a new stake in F.N.B. Corporation in the 1st quarter worth approximately $120,000. Elkfork Partners LLC grew its position in F.N.B. Corporation by 5.5% in the 1st quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock worth $138,000 after purchasing an additional 484 shares during the period. Finally, Jane Street Group LLC bought a new stake in F.N.B. Corporation in the 1st quarter worth approximately $169,000. 76.43% of the stock is owned by institutional investors and hedge funds.
In related news, insider Gary L. Guerrieri sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $13.19, for a total transaction of $92,330.00. Following the completion of the transaction, the insider now owns 38,407 shares of the company’s stock, valued at $506,588.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frank C. Mencini bought 2,500 shares of F.N.B. Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $13.57 per share, with a total value of $33,925.00. Following the acquisition, the director now owns 19,977 shares of the company’s stock, valued at $271,087.89. The disclosure for this purchase can be found here. Company insiders own 1.21% of the company’s stock.
Shares of F.N.B. Corporation (FNB) traded up 1.03% during midday trading on Friday, hitting $12.79. 7,144,542 shares of the stock were exchanged. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 16.46 and a beta of 0.96. F.N.B. Corporation has a 12 month low of $11.86 and a 12 month high of $16.43. The firm’s 50-day moving average is $12.98 and its 200-day moving average is $14.01.
F.N.B. Corporation (NYSE:FNB) last issued its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The firm had revenue of $284.50 million during the quarter, compared to analysts’ expectations of $294.39 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. Equities research analysts predict that F.N.B. Corporation will post $0.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 3.75%. F.N.B. Corporation’s dividend payout ratio (DPR) is presently 61.54%.
A number of equities research analysts have commented on FNB shares. J P Morgan Chase & Co raised shares of F.N.B. Corporation from a “neutral” rating to an “overweight” rating and set a $17.50 target price for the company in a research report on Tuesday, May 23rd. Boenning Scattergood raised shares of F.N.B. Corporation from a “neutral” rating to an “outperform” rating in a research report on Monday, August 28th. BidaskClub downgraded shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. started coverage on shares of F.N.B. Corporation in a research report on Tuesday, June 13th. They issued a “strong-buy” rating and a $19.00 target price for the company. Finally, ValuEngine raised shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. F.N.B. Corporation has an average rating of “Buy” and a consensus price target of $17.55.
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About F.N.B. Corporation
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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