F.N.B. Corporation (FNB) Rating Lowered to Sell at Zacks Investment Research
F.N.B. Corporation (NYSE:FNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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. “
Several other equities research analysts also recently commented on the stock. Boenning Scattergood upgraded shares of F.N.B. Corporation from a “neutral” rating to an “outperform” rating in a research report on Monday, August 28th. BidaskClub downgraded shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Raymond James Financial, Inc. started coverage on shares of F.N.B. Corporation in a research report on Tuesday, June 13th. They issued a “strong-buy” rating and a $19.00 price target for the company. ValuEngine downgraded shares of F.N.B. Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, FIG Partners upgraded shares of F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. F.N.B. Corporation presently has an average rating of “Buy” and an average target price of $17.55.
F.N.B. Corporation (FNB) traded up 0.37% during mid-day trading on Monday, reaching $13.41. 1,513,885 shares of the company’s stock traded hands. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 17.26 and a beta of 0.96. F.N.B. Corporation has a 52-week low of $12.01 and a 52-week high of $16.43. The company has a 50-day moving average of $12.95 and a 200-day moving average of $13.94.
F.N.B. Corporation (NYSE:FNB) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $284.50 million during the quarter, compared to the consensus estimate of $294.39 million. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities research analysts expect that F.N.B. Corporation will post $0.95 EPS for the current year.
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In related news, 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 price of $13.57 per share, for a total transaction of $33,925.00. Following the purchase, the director now owns 19,977 shares in the company, valued at $271,087.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary L. Guerrieri sold 7,000 shares of the company’s stock in a transaction that occurred 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 owns 38,407 shares in the company, valued at approximately $506,588.33. The disclosure for this sale can be found here. 1.21% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in F.N.B. Corporation in the 1st quarter valued at approximately $696,000. FMR LLC increased its stake in F.N.B. Corporation by 35.7% in the 1st quarter. FMR LLC now owns 8,083,404 shares of the bank’s stock valued at $120,201,000 after buying an additional 2,127,104 shares during the period. SG Americas Securities LLC increased its stake in F.N.B. Corporation by 266.3% in the 1st quarter. SG Americas Securities LLC now owns 118,762 shares of the bank’s stock valued at $1,766,000 after buying an additional 86,344 shares during the period. BlackRock Inc. increased its stake in F.N.B. Corporation by 25,256.7% in the 1st 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. Finally, Louisiana State Employees Retirement System increased its stake in F.N.B. Corporation by 4.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 84,300 shares of the bank’s stock valued at $1,194,000 after buying an additional 3,400 shares during the period. 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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