Zacks Investment Research lowered shares of F.N.B. Corporation (NYSE:FNB) from a hold rating to a sell rating in a report published on Monday morning.
According to Zacks, “FNB Corporation is a diversified financial services company serving banking, trust, consumer finance and insurance customers through community banking affiliates and other subsidiaries with offices in Florida, Pennsylvania, Ohio and Tennessee. “
Other research analysts have also issued reports about the company. Jefferies Group LLC reaffirmed a buy rating and issued a $18.00 price objective on shares of F.N.B. Corporation in a report on Friday, August 11th. ValuEngine raised F.N.B. Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. BidaskClub raised F.N.B. Corporation from a sell rating to a hold rating in a report on Thursday, June 29th. Boenning Scattergood reaffirmed a hold rating on shares of F.N.B. Corporation in a report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $15.00 price objective on shares of F.N.B. Corporation in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $17.39.
F.N.B. Corporation (NYSE:FNB) last posted its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $284.50 million for the quarter, compared to analyst estimates of $294.39 million. F.N.B. Corporation had a return on equity of 6.97% and a net margin of 19.43%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. F.N.B. Corporation’s dividend payout ratio is currently 61.54%.
In other F.N.B. Corporation news, Director William B. Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $13.90, for a total value of $41,700.00. Following the completion of the transaction, the director now directly owns 84,370 shares in the company, valued at $1,172,743. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank C. Mencini bought 2,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $13.57 per share, with a total value of $33,925.00. Following the completion of the transaction, the director now directly owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The disclosure for this purchase can be found here. 1.21% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Ffcm LLC bought a new position in F.N.B. Corporation in the second quarter valued at about $114,000. Stifel Financial Corp raised its position in F.N.B. Corporation by 1.9% in the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock valued at $150,000 after purchasing an additional 202 shares during the last quarter. Park National Corp OH bought a new position in F.N.B. Corporation in the third quarter valued at about $162,000. Jane Street Group LLC bought a new position in F.N.B. Corporation in the first quarter valued at about $169,000. Finally, Round Table Services LLC bought a new position in F.N.B. Corporation in the second quarter valued at about $172,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.
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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