CIBC World Markets Inc. Purchases New Holdings in F.N.B. Corp (FNB)
CIBC World Markets Inc. purchased a new stake in F.N.B. Corp (NYSE:FNB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,510 shares of the bank’s stock, valued at approximately $350,000.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of F.N.B. by 1.1% in the third quarter. BlackRock Inc. now owns 35,307,818 shares of the bank’s stock valued at $449,115,000 after purchasing an additional 401,027 shares in the last quarter. FMR LLC increased its holdings in shares of F.N.B. by 7.2% in the second quarter. FMR LLC now owns 16,787,190 shares of the bank’s stock valued at $225,284,000 after purchasing an additional 1,125,120 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of F.N.B. by 45.5% in the second quarter. Glenmede Trust Co. NA now owns 6,274,483 shares of the bank’s stock valued at $84,203,000 after purchasing an additional 1,962,895 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of F.N.B. by 64.7% in the second quarter. Segall Bryant & Hamill LLC now owns 4,541,608 shares of the bank’s stock valued at $60,948,000 after purchasing an additional 1,783,871 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in F.N.B. by 12.3% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 4,517,587 shares of the bank’s stock worth $57,464,000 after acquiring an additional 495,729 shares during the period. 79.89% of the stock is owned by institutional investors and hedge funds.
FNB has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, October 5th. ValuEngine raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Wells Fargo & Co set a $15.00 target price on shares of F.N.B. and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.33.
FNB opened at $11.25 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.81 and a quick ratio of 0.81. F.N.B. Corp has a 52 week low of $11.03 and a 52 week high of $14.91. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93.
F.N.B. (NYSE:FNB) last released its earnings results on Tuesday, October 23rd. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. F.N.B. had a net margin of 20.94% and a return on equity of 8.03%. The firm had revenue of $309.60 million during the quarter, compared to analyst estimates of $313.18 million. During the same quarter in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that F.N.B. Corp will post 1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, November 30th. F.N.B.’s dividend payout ratio is presently 51.61%.
F.N.B. Company Profile
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through four segments: Community Banking, Wealth Management, Insurance, and Consumer Finance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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