Carret Asset Management LLC Trims Stake in F.N.B. Corporation (FNB)
Carret Asset Management LLC cut its stake in shares of F.N.B. Corporation (NYSE:FNB) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,264 shares of the bank’s stock after selling 100 shares during the quarter. Carret Asset Management LLC’s holdings in F.N.B. Corporation were worth $598,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FNB. Ffcm LLC purchased a new position in shares of F.N.B. Corporation during the second quarter worth approximately $114,000. Stifel Financial Corp increased its position in shares of F.N.B. Corporation by 1.9% during the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock worth $150,000 after acquiring an additional 202 shares during the period. Jane Street Group LLC purchased a new position in shares of F.N.B. Corporation during the first quarter worth approximately $169,000. Round Table Services LLC purchased a new position in shares of F.N.B. Corporation during the second quarter worth approximately $172,000. Finally, Raymond James Trust N.A. increased its position in shares of F.N.B. Corporation by 20.4% during the second quarter. Raymond James Trust N.A. now owns 12,859 shares of the bank’s stock worth $182,000 after acquiring an additional 2,181 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of F.N.B. Corporation (NYSE FNB) traded down 0.14% during midday trading on Friday, reaching $14.01. 2,153,935 shares of the company’s stock traded hands. F.N.B. Corporation has a 1-year low of $12.02 and a 1-year high of $16.43. The stock has a market capitalization of $4.50 billion, a P/E ratio of 18.03 and a beta of 0.97. The firm’s 50-day moving average price is $13.10 and its 200 day moving average price is $13.79.
F.N.B. Corporation (NYSE:FNB) last announced its quarterly earnings data 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 company had revenue of $284.50 million for the quarter, compared to the consensus estimate of $294.39 million. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts predict that F.N.B. Corporation will post $0.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Wednesday, August 30th. F.N.B. Corporation’s dividend payout ratio is presently 61.54%.
A number of brokerages have recently commented on FNB. ValuEngine raised shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Raymond James Financial, Inc. began 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. Jefferies Group LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of F.N.B. Corporation in a research report on Friday, July 14th. Zacks Investment Research raised shares of F.N.B. Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price objective on shares of F.N.B. Corporation in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $17.39.
In other news, Director Frank C. Mencini acquired 2,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $13.57 per share, with a total value of $33,925.00. Following the transaction, the director now owns 19,977 shares in the company, valued at approximately $271,087.89. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now directly owns 38,407 shares in the company, valued at $506,588.33. The disclosure for this sale can be found here. Corporate insiders own 1.21% of the company’s stock.
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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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