F.N.B. Corporation (FNB) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of F.N.B. Corporation (NYSE:FNB) from a sell rating to a hold rating in a report issued on Monday morning.
According to Zacks, “FNB Corporation is a diversified financial services company serving banking, trust, consumer finance and insurance customers through community banking affiliates and other subsidiaries with offices in Florida, Pennsylvania, Ohio and Tennessee. “
A number of other brokerages also recently weighed in on FNB. ValuEngine raised shares of 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 shares of F.N.B. Corporation in a research note on Tuesday, June 13th. They set a strong-buy rating and a $19.00 target price for the company. Jefferies Group LLC reaffirmed a buy rating and set a $18.00 target price on shares of F.N.B. Corporation in a research note on Friday, July 14th. BidaskClub raised shares of F.N.B. Corporation from a sell rating to a hold rating in a research note on Thursday, June 29th. Finally, Boenning Scattergood reiterated a hold rating on shares of F.N.B. Corporation in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $17.39.
F.N.B. Corporation (FNB) traded down 0.107% during trading on Monday, reaching $14.015. The company’s stock had a trading volume of 658,050 shares. The company has a 50-day moving average of $13.07 and a 200 day moving average of $13.79. The firm has a market cap of $4.50 billion, a PE ratio of 18.037 and a beta of 0.97. F.N.B. Corporation has a one year low of $12.02 and a one year high of $16.43.
F.N.B. Corporation (NYSE:FNB) last announced its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share 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 business had revenue of $284.50 million during the quarter, compared to the consensus estimate of $294.39 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts expect that F.N.B. Corporation will post $0.95 EPS for the current fiscal year.
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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 3.42%. The ex-dividend date was Wednesday, August 30th. F.N.B. Corporation’s payout ratio is 61.54%.
In other news, 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 $1,172,743. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale, the insider now owns 38,407 shares in the company, valued at approximately $506,588.33. The disclosure for this sale can be found here. Corporate insiders own 1.21% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Stifel Financial Corp boosted its holdings in F.N.B. Corporation by 1.9% in the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock worth $150,000 after purchasing an additional 202 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in F.N.B. Corporation by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,153 shares of the bank’s stock worth $668,000 after purchasing an additional 343 shares during the last quarter. World Asset Management Inc boosted its holdings in F.N.B. Corporation by 2.8% in the second quarter. World Asset Management Inc now owns 20,381 shares of the bank’s stock worth $289,000 after purchasing an additional 558 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in F.N.B. Corporation by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 36,917 shares of the bank’s stock worth $548,000 after purchasing an additional 589 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in F.N.B. Corporation by 2.6% in the second quarter. Teacher Retirement System of Texas now owns 25,966 shares of the bank’s stock worth $368,000 after purchasing an additional 654 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.
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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