F.N.B. Corporation (FNB) Shares Bought by First Trust Advisors LP
First Trust Advisors LP raised its position in F.N.B. Corporation (NYSE:FNB) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,601,616 shares of the bank’s stock after purchasing an additional 151,877 shares during the quarter. First Trust Advisors LP owned 0.50% of F.N.B. Corporation worth $22,471,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FNB. JPMorgan Chase & Co. raised its position in F.N.B. Corporation by 5,740.8% in the second quarter. JPMorgan Chase & Co. now owns 2,778,289 shares of the bank’s stock valued at $39,341,000 after purchasing an additional 2,730,722 shares during the period. Neuberger Berman Group LLC raised its position in F.N.B. Corporation by 16.6% in the second quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock valued at $161,436,000 after purchasing an additional 1,620,392 shares during the period. Royal Bank of Canada raised its position in F.N.B. Corporation by 1,517.2% in the second quarter. Royal Bank of Canada now owns 1,704,634 shares of the bank’s stock valued at $24,137,000 after purchasing an additional 1,599,230 shares during the period. Goldman Sachs Group Inc. raised its position in F.N.B. Corporation by 55.0% in the second quarter. Goldman Sachs Group Inc. now owns 4,018,685 shares of the bank’s stock valued at $56,904,000 after purchasing an additional 1,425,861 shares during the period. Finally, Rothschild Asset Management Inc. purchased a new stake in F.N.B. Corporation in the second quarter valued at approximately $19,151,000. 76.97% of the stock is currently owned by institutional investors.
In related news, insider Gary L. Guerrieri sold 7,000 shares of F.N.B. Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $13.19, for a total value of $92,330.00. Following the sale, the insider now directly owns 38,407 shares in the company, valued at approximately $506,588.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank C. Mencini acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $13.57 per share, for a total transaction of $33,925.00. Following the completion of the acquisition, the director now owns 19,977 shares in the company, valued at approximately $271,087.89. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 9,000 shares of company stock worth $121,415. 1.21% of the stock is currently owned by insiders.
A number of brokerages have issued reports on FNB. BidaskClub lowered F.N.B. Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Zacks Investment Research raised F.N.B. Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 target price on shares of F.N.B. Corporation in a research report on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating and issued a $18.00 target price on shares of F.N.B. Corporation in a research report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of F.N.B. Corporation in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. F.N.B. Corporation has a consensus rating of “Buy” and a consensus price target of $17.39.
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Shares of F.N.B. Corporation (NYSE:FNB) opened at $13.51 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94.
F.N.B. Corporation (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. F.N.B. Corporation had a return on equity of 6.81% and a net margin of 19.95%. The company had revenue of $291.38 million for the quarter, compared to analysts’ expectations of $299.47 million. During the same period in the previous year, the firm posted $0.24 EPS. analysts predict that F.N.B. Corporation will post 0.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, November 30th. F.N.B. Corporation’s payout ratio is 62.34%.
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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