FIG Partners Brokers Increase Earnings Estimates for F.N.B. Corp. (FNB)
F.N.B. Corp. (NYSE:FNB) – Equities research analysts at FIG Partners lifted their FY2017 earnings estimates for shares of F.N.B. Corp. in a research report issued to clients and investors on Monday. FIG Partners analyst B. Martin now anticipates that the firm will post earnings per share of $1.06 for the year, up from their prior forecast of $0.98.
A number of other brokerages have also recently commented on FNB. Zacks Investment Research upgraded shares of F.N.B. Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. JPMorgan Chase & Co. restated a “hold” rating on shares of F.N.B. Corp. in a research note on Saturday, July 9th. Jefferies Group restated a “buy” rating and set a $14.00 price target on shares of F.N.B. Corp. in a research note on Thursday, July 7th. Finally, FBR & Co cut their price target on shares of F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating for the company in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. F.N.B. Corp. has an average rating of “Hold” and a consensus price target of $13.80.
Shares of F.N.B. Corp. (NYSE:FNB) traded down 0.75% during midday trading on Wednesday, hitting $11.89. The stock had a trading volume of 1,641,835 shares. F.N.B. Corp. has a 52 week low of $11.16 and a 52 week high of $14.66. The stock has a market cap of $2.48 billion, a PE ratio of 16.24 and a beta of 0.98. The stock has a 50-day moving average of $12.31 and a 200 day moving average of $12.73.
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F.N.B. Corp. (NYSE:FNB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. F.N.B. Corp. had a net margin of 18.64% and a return on equity of 7.60%. During the same period last year, the company posted $0.22 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Tuesday, August 30th. F.N.B. Corp.’s payout ratio is 64.86%.
In other news, CEO Vincent J. Delie, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $11.97 per share, with a total value of $59,850.00. Following the completion of the acquisition, the chief executive officer now owns 175,054 shares in the company, valued at approximately $2,095,396.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Hormell acquired 3,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were purchased at an average cost of $12.35 per share, with a total value of $37,050.00. Following the acquisition, the director now owns 54,217 shares of the company’s stock, valued at approximately $669,579.95. The disclosure for this purchase can be found here. Insiders own 1.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of F.N.B. Corp. by 57.3% in the first quarter. State Street Corp now owns 9,440,981 shares of the company’s stock worth $122,823,000 after buying an additional 3,440,810 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of F.N.B. Corp. by 121.0% in the second quarter. GSA Capital Partners LLP now owns 44,704 shares of the company’s stock worth $561,000 after buying an additional 24,475 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of F.N.B. Corp. by 169.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 326,860 shares of the company’s stock worth $4,252,000 after buying an additional 205,635 shares in the last quarter. Menta Capital LLC raised its stake in shares of F.N.B. Corp. by 200.3% in the first quarter. Menta Capital LLC now owns 35,735 shares of the company’s stock worth $465,000 after buying an additional 23,835 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of F.N.B. Corp. by 15.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,002,044 shares of the company’s stock worth $13,037,000 after buying an additional 132,935 shares in the last quarter. 68.51% of the stock is owned by institutional investors.
F.N.B. Corp. 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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