World Asset Management Inc Has $289,000 Stake in F.N.B. Corporation (FNB)
World Asset Management Inc boosted its stake in F.N.B. Corporation (NYSE:FNB) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,381 shares of the bank’s stock after buying an additional 558 shares during the period. World Asset Management Inc’s holdings in F.N.B. Corporation were worth $289,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNB. BlackRock Inc. boosted its position in F.N.B. Corporation by 25,256.7% in the first quarter. BlackRock Inc. now owns 36,800,404 shares of the bank’s stock valued at $547,224,000 after buying an additional 36,655,273 shares during the period. Vanguard Group Inc. boosted its position in F.N.B. Corporation by 55.1% in the first quarter. Vanguard Group Inc. now owns 26,358,126 shares of the bank’s stock valued at $391,945,000 after buying an additional 9,358,583 shares during the period. State Street Corp boosted its position in F.N.B. Corporation by 44.6% in the first quarter. State Street Corp now owns 17,551,631 shares of the bank’s stock valued at $260,994,000 after buying an additional 5,411,024 shares during the period. Dimensional Fund Advisors LP boosted its position in F.N.B. Corporation by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 15,455,870 shares of the bank’s stock valued at $229,830,000 after buying an additional 2,768,360 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in F.N.B. Corporation by 6.8% in the first quarter. Neuberger Berman Group LLC now owns 9,780,428 shares of the bank’s stock valued at $145,435,000 after buying an additional 625,333 shares during the period. Institutional investors and hedge funds own 76.68% of the company’s stock.
Shares of F.N.B. Corporation (NYSE:FNB) opened at 13.13 on Wednesday. F.N.B. Corporation has a 12 month low of $11.86 and a 12 month high of $16.43. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 16.90 and a beta of 0.94. The firm has a 50-day moving average of $13.81 and a 200 day moving average of $14.39.
F.N.B. Corporation (NYSE:FNB) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, hitting the 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 company had revenue of $284.50 million for the quarter, compared to analysts’ expectations of $294.39 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. F.N.B. Corporation’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts expect that F.N.B. Corporation will post $0.95 earnings per share for the current year.
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Several research analysts recently weighed in on FNB shares. Jefferies Group LLC set a $18.00 price target on shares of F.N.B. Corporation and gave the stock a “buy” rating in a report on Saturday, May 6th. BidaskClub cut shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Wells Fargo & Company started coverage on shares of F.N.B. Corporation in a report on Friday, June 2nd. They set an “outperform” rating on the stock. ValuEngine cut shares of F.N.B. Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of F.N.B. Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $17.75.
In other F.N.B. Corporation news, insider Gary L. Guerrieri sold 7,000 shares of F.N.B. Corporation stock in a transaction 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 completion of the transaction, the insider now directly owns 38,407 shares of the company’s stock, valued at $506,588.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank C. Mencini acquired 2,500 shares of the company’s 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 completion of the purchase, 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 insiders.
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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