Jefferies Group Comments on F.N.B. Corporation’s Q1 2018 Earnings (FNB)
F.N.B. Corporation (NYSE:FNB) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for F.N.B. Corporation in a research note issued on Tuesday. Jefferies Group analyst C. Haire forecasts that the bank will post earnings of $0.24 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Group also issued estimates for F.N.B. Corporation’s Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.27 EPS and Q4 2018 earnings at $0.27 EPS.
F.N.B. Corporation (NYSE:FNB) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The company had revenue of $284.50 million during the quarter, compared to analysts’ expectations of $294.39 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/11/jefferies-group-comments-on-f-n-b-corporations-q1-2018-earnings-fnb.html.
A number of other research firms also recently issued reports on FNB. ValuEngine raised shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub downgraded shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Raymond James Financial, Inc. initiated coverage on shares of F.N.B. Corporation in a report on Tuesday, June 13th. They issued a “strong-buy” rating and a $19.00 price objective for the company. Finally, FIG Partners raised shares of F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.39.
F.N.B. Corporation (NYSE:FNB) traded down 0.92% during midday trading on Wednesday, reaching $13.94. 169,463 shares of the company’s stock were exchanged. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 17.94 and a beta of 0.97. F.N.B. Corporation has a 52 week low of $12.02 and a 52 week high of $16.43. The firm has a 50-day moving average price of $13.17 and a 200 day moving average price of $13.77.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Wednesday, August 30th. F.N.B. Corporation’s dividend payout ratio (DPR) is presently 61.54%.
In other news, Director Frank C. Mencini purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $13.57 per share, with a total value of $33,925.00. Following the acquisition, the director now owns 19,977 shares in the company, valued at approximately $271,087.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $13.19, for a total transaction of $92,330.00. Following the sale, the insider now directly owns 38,407 shares of the company’s stock, valued at approximately $506,588.33. The disclosure for this sale can be found here. Corporate insiders own 1.21% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of F.N.B. Corporation by 25,256.7% during the 1st quarter. BlackRock Inc. now owns 36,800,404 shares of the bank’s stock worth $547,224,000 after acquiring an additional 36,655,273 shares during the period. Vanguard Group Inc. lifted its holdings in shares of F.N.B. Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,139,637 shares of the bank’s stock worth $384,298,000 after acquiring an additional 781,511 shares during the period. State Street Corp lifted its holdings in shares of F.N.B. Corporation by 3.2% during the 2nd quarter. State Street Corp now owns 18,107,627 shares of the bank’s stock worth $256,409,000 after acquiring an additional 555,996 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of F.N.B. Corporation by 16.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock worth $161,436,000 after acquiring an additional 1,620,392 shares during the period. Finally, FMR LLC lifted its holdings in shares of F.N.B. Corporation by 15.5% during the 2nd quarter. FMR LLC now owns 9,337,204 shares of the bank’s stock worth $132,214,000 after acquiring an additional 1,253,800 shares during the period. 76.41% of the stock is owned by institutional investors.
About F.N.B. Corporation
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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