F.N.B. Corporation (FNB) Stake Increased by JPMorgan Chase & Co.
JPMorgan Chase & Co. grew its holdings in F.N.B. Corporation (NYSE:FNB) by 8.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,017,626 shares of the bank’s stock after buying an additional 239,337 shares during the quarter. JPMorgan Chase & Co. owned 0.93% of F.N.B. worth $42,066,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FNB. Vanguard Group Inc. increased its position in shares of F.N.B. by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,139,637 shares of the bank’s stock worth $384,298,000 after purchasing an additional 781,511 shares in the last quarter. State Street Corp increased its position in shares of F.N.B. by 3.2% during the second quarter. State Street Corp now owns 18,107,627 shares of the bank’s stock worth $256,409,000 after purchasing an additional 555,996 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of F.N.B. by 16.6% during the second quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock worth $161,436,000 after purchasing an additional 1,620,392 shares in the last quarter. FMR LLC increased its position in shares of F.N.B. by 15.5% during the second quarter. FMR LLC now owns 9,337,204 shares of the bank’s stock worth $132,214,000 after purchasing an additional 1,253,800 shares in the last quarter. Finally, Hamlin Capital Management LLC increased its position in shares of F.N.B. by 23.2% during the third quarter. Hamlin Capital Management LLC now owns 5,691,678 shares of the bank’s stock worth $79,854,000 after purchasing an additional 1,071,738 shares in the last quarter. Institutional investors and hedge funds own 76.02% of the company’s stock.
F.N.B. Corporation (FNB) opened at $14.08 on Monday. F.N.B. Corporation has a 12 month low of $12.02 and a 12 month high of $16.43. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4,552.21, a PE ratio of 14.98, a P/E/G ratio of 1.60 and a beta of 0.96.
F.N.B. (NYSE:FNB) last posted its earnings results 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. had a return on equity of 6.81% and a net margin of 19.95%. The firm had revenue of $291.38 million for the quarter, compared to analyst estimates of $299.47 million. During the same quarter in the prior year, the company earned $0.24 EPS. analysts forecast that F.N.B. Corporation will post 0.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, November 30th. F.N.B.’s payout ratio is 62.34%.
Several analysts have issued reports on FNB shares. ValuEngine upgraded F.N.B. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 target price on shares of F.N.B. in a report on Tuesday, October 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $15.00 target price on shares of F.N.B. in a report on Friday, October 20th. Zacks Investment Research upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Boenning Scattergood upgraded F.N.B. from a “neutral” rating to an “outperform” rating in a report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.39.
In related news, Director Frank C. Mencini purchased 2,000 shares of F.N.B. stock in a transaction on Wednesday, November 8th. The shares were bought at an average price of $12.93 per share, with a total value of $25,860.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert M. Moorehead purchased 5,000 shares of F.N.B. stock in a transaction on Friday, November 3rd. The stock was bought at an average cost of $13.46 per share, for a total transaction of $67,300.00. Following the transaction, the insider now directly owns 25,312 shares in the company, valued at $340,699.52. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 8,500 shares of company stock worth $113,350. 1.21% of the stock is owned by corporate insiders.
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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