F.N.B. Corporation to Post Q4 2017 Earnings of $0.24 Per Share, DA Davidson Forecasts (FNB)
F.N.B. Corporation (NYSE:FNB) – Research analysts at DA Davidson cut their Q4 2017 earnings estimates for F.N.B. Corporation in a note issued to investors on Friday. DA Davidson analyst R. Gunther now forecasts that the bank will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.25. DA Davidson also issued estimates for F.N.B. Corporation’s Q2 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.29 EPS, Q1 2019 earnings at $0.28 EPS and Q3 2019 earnings at $0.31 EPS.
F.N.B. Corporation (NYSE:FNB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. F.N.B. Corporation had a net margin of 19.95% and a return on equity of 6.81%. The business had revenue of $291.38 million during the quarter, compared to the consensus estimate of $299.47 million. During the same quarter last year, the firm posted $0.24 EPS.
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FNB has been the subject of a number of other research reports. BidaskClub downgraded F.N.B. Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Zacks Investment Research upgraded F.N.B. Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $15.00 price objective on shares of F.N.B. Corporation in a report on Friday, September 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of F.N.B. Corporation in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price objective on shares of F.N.B. Corporation in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. F.N.B. Corporation presently has an average rating of “Buy” and a consensus price target of $17.39.
Shares of F.N.B. Corporation (FNB) opened at 13.59 on Monday. The company has a 50-day moving average of $13.41 and a 200 day moving average of $13.73. The firm has a market cap of $4.37 billion, a P/E ratio of 17.49 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.53%. F.N.B. Corporation’s dividend payout ratio is currently 62.34%.
In other news, insider Gary L. Guerrieri sold 7,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $13.19, for a total value of $92,330.00. Following the sale, the insider now directly owns 38,407 shares of the company’s stock, valued at $506,588.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank C. Mencini bought 2,500 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $13.57 per share, for a total transaction of $33,925.00. Following the completion of the purchase, the director now owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The disclosure for this purchase can be found here. Corporate insiders own 1.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of F.N.B. Corporation by 35.7% in the first quarter. FMR LLC now owns 8,083,404 shares of the bank’s stock worth $120,201,000 after acquiring an additional 2,127,104 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of F.N.B. Corporation by 4.2% in the second quarter. Louisiana State Employees Retirement System now owns 84,300 shares of the bank’s stock worth $1,194,000 after acquiring an additional 3,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of F.N.B. Corporation by 12.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 81,448 shares of the bank’s stock worth $1,153,000 after acquiring an additional 9,243 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of F.N.B. Corporation in the second quarter worth $674,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of F.N.B. Corporation in the second quarter worth $273,000. 76.41% of the stock is currently owned by hedge funds and other 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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