Cadence Capital Management LLC Invests $654,000 in F.N.B. Corporation (FNB)

Cadence Capital Management LLC bought a new position in F.N.B. Corporation (NYSE:FNB) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 46,631 shares of the bank’s stock, valued at approximately $654,000.

Other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in F.N.B. in the 2nd quarter worth $273,000. Quantum Capital Management raised its holdings in F.N.B. by 3.5% during the third quarter. Quantum Capital Management now owns 876,299 shares of the bank’s stock valued at $12,294,000 after acquiring an additional 29,389 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in F.N.B. by 12.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 81,448 shares of the bank’s stock valued at $1,153,000 after acquiring an additional 9,243 shares during the period. Rafferty Asset Management LLC bought a new stake in F.N.B. during the second quarter valued at about $674,000. Finally, Mesirow Financial Investment Management Equity Management raised its holdings in F.N.B. by 5.5% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 1,337,233 shares of the bank’s stock valued at $18,762,000 after acquiring an additional 69,930 shares during the period. 76.02% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the company. Royal Bank Of Canada reissued a “hold” rating and set a $15.00 price target on shares of F.N.B. in a report on Friday, October 20th. Zacks Investment Research lowered F.N.B. from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $15.00 price objective on shares of F.N.B. in a research report on Tuesday, October 3rd. ValuEngine upgraded F.N.B. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Boenning Scattergood upgraded F.N.B. from a “neutral” rating to an “outperform” rating in a research 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. F.N.B. currently has an average rating of “Buy” and a consensus price target of $17.39.

In other F.N.B. news, Director Frank C. Mencini acquired 2,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average price of $12.93 per share, with a total value of $25,860.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert M. Moorehead acquired 5,000 shares of F.N.B. stock in a transaction that occurred on Friday, November 3rd. The stock was acquired at an average cost of $13.46 per share, with a total value of $67,300.00. Following the purchase, the insider now directly owns 25,312 shares of the company’s stock, valued at $340,699.52. The disclosure for this purchase can be found here. Insiders have bought 8,500 shares of company stock valued at $113,350 in the last ninety days. Insiders own 1.21% of the company’s stock.

Shares of F.N.B. Corporation (FNB) traded up $0.22 during trading hours on Tuesday, hitting $14.39. The company’s stock had a trading volume of 3,143,600 shares, compared to its average volume of 2,817,312. F.N.B. Corporation has a fifty-two week low of $12.02 and a fifty-two week high of $16.43. The stock has a market capitalization of $4,581.30, a price-to-earnings ratio of 15.07, a PEG ratio of 1.61 and a beta of 0.96. 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. (NYSE:FNB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. F.N.B. had a net margin of 19.95% and a return on equity of 6.81%. The firm had revenue of $291.38 million during the quarter, compared to the consensus estimate of $299.47 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. analysts expect that F.N.B. Corporation will post 0.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 30th. F.N.B.’s dividend payout ratio is presently 62.34%.

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About F.N.B.

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.

Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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