Wheatland Advisors Inc. Sells 3,459 Shares of F.N.B. Corporation (NYSE:FNB)
Wheatland Advisors Inc. reduced its stake in F.N.B. Corporation (NYSE:FNB) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,161 shares of the bank’s stock after selling 3,459 shares during the period. Wheatland Advisors Inc.’s holdings in F.N.B. Corporation were worth $1,064,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tyers Asset Management LLC increased its position in F.N.B. Corporation by 5.5% in the first quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock valued at $101,000 after buying an additional 352 shares during the period. Israel Discount Bank of New York bought a new position in F.N.B. Corporation during the first quarter valued at approximately $120,000. Elkfork Partners LLC increased its position in F.N.B. Corporation by 5.5% in the first quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock valued at $138,000 after buying an additional 484 shares during the period. GW&K Investment Management LLC bought a new position in F.N.B. Corporation during the first quarter valued at approximately $158,000. Finally, Raymond James Trust N.A. increased its position in F.N.B. Corporation by 0.6% in the first quarter. Raymond James Trust N.A. now owns 10,678 shares of the bank’s stock valued at $159,000 after buying an additional 60 shares during the period. 75.89% of the stock is currently owned by hedge funds and other institutional investors.
F.N.B. Corporation (NYSE FNB) opened at 13.41 on Thursday. The firm’s 50-day moving average price is $13.87 and its 200 day moving average price is $14.45. F.N.B. Corporation has a 12-month low of $11.86 and a 12-month high of $16.43. The stock has a market cap of $4.41 billion, a PE ratio of 17.24 and a beta of 0.94.
F.N.B. Corporation (NYSE:FNB) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. F.N.B. Corporation had a return on equity of 6.97% and a net margin of 19.43%. The company had revenue of $284.50 million during the quarter, compared to analysts’ expectations of $294.39 million. During the same quarter in the prior year, the firm posted $0.22 EPS. F.N.B. Corporation’s quarterly revenue was up 24.8% compared to the same quarter last year. Analysts anticipate that F.N.B. Corporation will post $0.95 EPS for the current year.
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Several research analysts have recently commented on FNB shares. Jefferies Group LLC set a $18.00 price objective on F.N.B. Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. FBR & Co reaffirmed a “buy” rating and issued a $19.00 price objective on shares of F.N.B. Corporation in a research note on Wednesday, April 26th. ValuEngine raised F.N.B. Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub raised F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Zacks Investment Research raised F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.75.
In other F.N.B. Corporation news, Director William B. Campbell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $13.90, for a total transaction of $41,700.00. Following the completion of the transaction, the director now owns 84,370 shares of the company’s stock, valued at $1,172,743. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank C. Mencini bought 2,500 shares of F.N.B. Corporation stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $13.57 per share, with a total value of $33,925.00. Following the acquisition, the director now directly owns 19,977 shares of the company’s stock, valued at $271,087.89. The disclosure for this purchase can be found here. 1.21% of the stock is owned by corporate insiders.
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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