Fmr LLC Raises Stake in F.N.B. Corporation (FNB)
Fmr LLC increased its position in F.N.B. Corporation (NYSE:FNB) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,337,204 shares of the bank’s stock after buying an additional 1,253,800 shares during the period. Fmr LLC owned 2.89% of F.N.B. Corporation worth $132,214,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ffcm LLC acquired a new position in F.N.B. Corporation during the 2nd quarter valued at about $114,000. Jane Street Group LLC acquired a new position in F.N.B. Corporation during the 1st quarter valued at about $169,000. Round Table Services LLC acquired a new position in F.N.B. Corporation during the 2nd quarter valued at about $172,000. Raymond James Trust N.A. boosted its stake in F.N.B. Corporation by 20.4% during the 2nd quarter. Raymond James Trust N.A. now owns 12,859 shares of the bank’s stock valued at $182,000 after purchasing an additional 2,181 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in F.N.B. Corporation during the 2nd quarter valued at about $195,000. Institutional investors own 76.41% of the company’s stock.
F.N.B. Corporation (FNB) opened at 14.01 on Friday. The firm’s 50 day moving average is $13.10 and its 200 day moving average is $13.79. The company has a market cap of $4.50 billion, a PE ratio of 18.03 and a beta of 0.97. F.N.B. Corporation has a 52-week low of $12.02 and a 52-week high of $16.43.
F.N.B. Corporation (NYSE:FNB) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, meeting the Zacks’ 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 for the quarter, compared to analysts’ expectations of $294.39 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts forecast that F.N.B. Corporation will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Wednesday, August 30th. F.N.B. Corporation’s payout ratio is 61.54%.
A number of equities analysts have issued reports on the company. ValuEngine upgraded F.N.B. Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Raymond James Financial, Inc. assumed coverage on F.N.B. Corporation in a research note on Tuesday, June 13th. They set a “strong-buy” rating and a $19.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and set a $18.00 price target on shares of F.N.B. Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price target on shares of F.N.B. Corporation in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.39.
In other news, insider Gary L. Guerrieri sold 7,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 38,407 shares in the company, valued at $506,588.33. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William B. Campbell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $13.90, for a total transaction of $41,700.00. Following the sale, the director now owns 84,370 shares in the company, valued at approximately $1,172,743. The disclosure for this sale can be found here. Corporate insiders own 1.21% of the company’s stock.
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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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