Wedge Capital Management L L P NC Sells 25,142 Shares of F.N.B. Corporation (FNB)
Wedge Capital Management L L P NC reduced its stake in F.N.B. Corporation (NYSE:FNB) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,213,743 shares of the bank’s stock after selling 25,142 shares during the period. Wedge Capital Management L L P NC owned approximately 0.38% of F.N.B. Corporation worth $17,029,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNB. JPMorgan Chase & Co. grew its stake in shares of F.N.B. Corporation by 3,002.9% in the first quarter. JPMorgan Chase & Co. now owns 47,567 shares of the bank’s stock worth $708,000 after acquiring an additional 46,034 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of F.N.B. Corporation in the first quarter worth $305,000. Morgan Stanley grew its stake in shares of F.N.B. Corporation by 10.9% in the first quarter. Morgan Stanley now owns 1,298,558 shares of the bank’s stock worth $19,310,000 after acquiring an additional 127,310 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of F.N.B. Corporation in the first quarter worth $169,000. Finally, Credit Suisse AG grew its stake in shares of F.N.B. Corporation by 4.6% in the first quarter. Credit Suisse AG now owns 326,206 shares of the bank’s stock worth $4,850,000 after acquiring an additional 14,379 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $18.00 target price on shares of F.N.B. Corporation in a research note on Friday, July 14th. Zacks Investment Research raised F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine raised F.N.B. Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of F.N.B. Corporation in a research note on Tuesday, October 3rd. Finally, Boenning Scattergood reissued a “hold” rating on shares of F.N.B. Corporation in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. F.N.B. Corporation presently has an average rating of “Buy” and a consensus price target of $17.39.
F.N.B. Corporation (FNB) opened at $13.51 on Monday. The firm has a market cap of $4,367.80, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.54 and a beta of 0.94. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.
F.N.B. Corporation (NYSE:FNB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $291.38 million for the quarter, compared to the consensus estimate of $299.47 million. F.N.B. Corporation had a return on equity of 6.81% and a net margin of 19.95%. During the same period in the prior year, the company posted $0.24 earnings per share. equities analysts predict that F.N.B. Corporation will post 0.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, November 30th. F.N.B. Corporation’s dividend payout ratio is 62.34%.
In other news, insider Robert M. Moorehead bought 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were bought at an average price of $13.46 per share, with a total value of $67,300.00. Following the completion of the acquisition, the insider now owns 25,312 shares in the company, valued at $340,699.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank C. Mencini bought 2,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost of $13.57 per share, for a total transaction of $33,925.00. Following the acquisition, the director now owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,000 shares of company stock worth $121,415. 1.21% of the stock is owned by corporate insiders.
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F.N.B. Corporation 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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