Equities Analysts Issue Forecasts for F.N.B. Corp’s Q1 2017 Earnings (FNB)
F.N.B. Corp (NYSE:FNB) – Analysts at SunTrust Banks reduced their Q1 2017 EPS estimates for shares of F.N.B. Corp in a research note issued to investors on Thursday. SunTrust Banks analyst M. Young now expects that the brokerage will earn $0.22 per share for the quarter, down from their previous forecast of $0.23. SunTrust Banks has a “Buy” rating and a $18.00 price target on the stock. SunTrust Banks also issued estimates for F.N.B. Corp’s Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.98 EPS, Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.32 EPS.
F.N.B. Corp (NYSE:FNB) last issued its earnings results on Wednesday, January 18th. The company reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. F.N.B. Corp had a return on equity of 7.87% and a net margin of 19.40%. During the same period in the previous year, the firm earned $0.22 earnings per share.
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A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $17.00 price objective on shares of F.N.B. Corp in a report on Wednesday, March 15th. Zacks Investment Research cut shares of F.N.B. Corp from a “hold” rating to a “sell” rating in a report on Monday, March 13th. DA Davidson began coverage on shares of F.N.B. Corp in a report on Monday, March 6th. They set a “buy” rating and a $19.00 price objective for the company. Finally, FBR & Co upgraded shares of F.N.B. Corp from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $14.00 to $19.00 in a report on Tuesday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. F.N.B. Corp currently has a consensus rating of “Hold” and an average price target of $16.86.
Shares of F.N.B. Corp (NYSE:FNB) opened at 15.10 on Monday. F.N.B. Corp has a 12 month low of $11.69 and a 12 month high of $16.43. The firm has a market cap of $3.16 billion, a PE ratio of 19.36 and a beta of 0.93. The stock has a 50 day moving average price of $15.43 and a 200 day moving average price of $14.39.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in F.N.B. Corp during the fourth quarter valued at $38,126,000. Russell Investments Group Ltd. purchased a new position in F.N.B. Corp during the fourth quarter valued at $37,467,000. The Manufacturers Life Insurance Company purchased a new position in F.N.B. Corp during the third quarter valued at $28,390,000. Citadel Advisors LLC boosted its position in 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 period. Finally, FMR LLC boosted its position in F.N.B. Corp by 53.8% in the fourth quarter. FMR LLC now owns 5,956,300 shares of the company’s stock valued at $95,480,000 after buying an additional 2,082,800 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.
In other news, Director Laura E. Ellsworth purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were acquired at an average cost of $14.84 per share, for a total transaction of $29,680.00. Following the completion of the acquisition, the director now owns 26,834 shares in the company, valued at $398,216.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank C. Mencini purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average price of $14.87 per share, for a total transaction of $44,610.00. Following the completion of the acquisition, the director now owns 13,407 shares of the company’s stock, valued at approximately $199,362.09. The disclosure for this purchase can be found here. 1.63% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Thursday, March 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.18%. The ex-dividend date was Tuesday, February 28th. F.N.B. Corp’s dividend payout ratio (DPR) is presently 61.54%.
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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