Envestnet Asset Management Inc. decreased its holdings in shares of F.N.B. Corp (NYSE:FNB) by 46.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,985 shares of the bank’s stock after selling 12,830 shares during the period. Envestnet Asset Management Inc.’s holdings in F.N.B. were worth $211,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Stifel Financial Corp grew its holdings in shares of F.N.B. by 1.9% during the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock valued at $150,000 after buying an additional 202 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of F.N.B. by 0.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,153 shares of the bank’s stock valued at $668,000 after buying an additional 343 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of F.N.B. by 14.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,082 shares of the bank’s stock valued at $199,000 after buying an additional 1,823 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of F.N.B. by 20.4% during the second quarter. Raymond James Trust N.A. now owns 12,859 shares of the bank’s stock valued at $182,000 after buying an additional 2,181 shares during the last quarter. Finally, Financial Advantage Inc. grew its holdings in shares of F.N.B. by 0.6% during the second quarter. Financial Advantage Inc. now owns 452,920 shares of the bank’s stock valued at $6,413,000 after buying an additional 2,858 shares during the last quarter. 75.96% of the stock is owned by institutional investors and hedge funds.
In related news, Director Frank C. Mencini bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were bought at an average price of $12.93 per share, for a total transaction of $25,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Moorehead bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average price of $13.46 per share, for a total transaction of $67,300.00. Following the acquisition, the insider now directly owns 25,312 shares of the company’s stock, valued at approximately $340,699.52. The disclosure for this purchase can be found here. Insiders purchased 8,500 shares of company stock worth $113,350 in the last 90 days. 1.21% of the stock is currently owned by corporate insiders.
F.N.B. (NYSE:FNB) last issued its earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $291.38 million for the quarter, compared to analysts’ expectations of $299.47 million. During the same quarter last year, the company posted $0.24 earnings per share. analysts expect that F.N.B. Corp will post 0.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, November 30th. F.N.B.’s dividend payout ratio is currently 61.54%.
FNB has been the topic of a number of recent analyst reports. ValuEngine cut shares of F.N.B. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank of Canada reiterated a “hold” rating and set a $15.00 price target on shares of F.N.B. in a report on Friday, September 8th. Zacks Investment Research cut shares of F.N.B. from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price target on shares of F.N.B. in a report on Tuesday, October 3rd. Finally, Stephens initiated coverage on shares of F.N.B. in a report on Wednesday, December 13th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. F.N.B. has an average rating of “Buy” and a consensus price target of $17.50.
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F.N.B. 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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