F.N.B. Corporation (FNB) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of F.N.B. Corporation (NYSE:FNB) from a hold rating to a buy rating in a report released on Monday.
Several other analysts have also weighed in on the stock. Boenning Scattergood upgraded shares of F.N.B. Corporation from a neutral rating to an outperform rating in a research report on Monday, August 28th. BidaskClub lowered 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 set a strong-buy rating and a $19.00 target price on the stock. FIG Partners upgraded shares of F.N.B. Corporation from a market perform rating to an outperform rating and set a $16.00 target price on the stock in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of F.N.B. Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $17.39.
F.N.B. Corporation (NYSE:FNB) traded up 1.192% during midday trading on Monday, reaching $14.005. 658,535 shares of the company traded hands. F.N.B. Corporation has a 12 month low of $12.02 and a 12 month high of $16.43. The firm’s 50 day moving average price is $13.04 and its 200 day moving average price is $13.79. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 18.024 and a beta of 0.97.
F.N.B. Corporation (NYSE:FNB) last issued its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, meeting the 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 business had revenue of $284.50 million for the quarter, compared to analyst estimates of $294.39 million. During the same period in the previous year, the business earned $0.22 EPS. The firm’s revenue was up 24.8% on a year-over-year basis. On average, analysts expect that F.N.B. Corporation will post $0.95 earnings per share for the current year.
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The company also recently declared 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. This represents a $0.48 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Wednesday, August 30th. F.N.B. Corporation’s dividend payout ratio is currently 61.54%.
In other news, Director Frank C. Mencini purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $13.57 per share, with a total value of $33,925.00. Following the acquisition, the director now directly owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William B. Campbell sold 3,000 shares of F.N.B. Corporation stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $13.90, for a total transaction of $41,700.00. Following the transaction, the director now directly owns 84,370 shares of the company’s stock, valued at $1,172,743. The disclosure for this sale can be found here. Company insiders own 1.21% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of F.N.B. Corporation by 25,256.7% in the first quarter. BlackRock Inc. now owns 36,800,404 shares of the bank’s stock worth $547,224,000 after acquiring an additional 36,655,273 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of F.N.B. Corporation by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,139,637 shares of the bank’s stock worth $384,298,000 after acquiring an additional 781,511 shares during the last quarter. State Street Corp raised its stake in shares of F.N.B. Corporation by 3.2% in the second quarter. State Street Corp now owns 18,107,627 shares of the bank’s stock worth $256,409,000 after acquiring an additional 555,996 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of F.N.B. Corporation by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 15,455,870 shares of the bank’s stock worth $229,830,000 after acquiring an additional 2,768,360 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of F.N.B. Corporation by 16.6% in the second quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock worth $161,436,000 after acquiring an additional 1,620,392 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.
F.N.B. Corporation 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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