F.N.B. Corporation (FNB) to Post FY2017 Earnings of $0.93 Per Share, FIG Partners Forecasts
F.N.B. Corporation (NYSE:FNB) – FIG Partners decreased their FY2017 earnings estimates for shares of F.N.B. Corporation in a report issued on Monday. FIG Partners analyst B. Martin now expects that the bank will post earnings per share of $0.93 for the year, down from their previous estimate of $0.94. FIG Partners has a “Outperform” rating and a $16.00 price objective on the stock. FIG Partners also issued estimates for F.N.B. Corporation’s Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.99 EPS.
F.N.B. Corporation (NYSE:FNB) last released its quarterly earnings data 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. The business had revenue of $291.38 million during the quarter, compared to analysts’ expectations of $299.47 million. F.N.B. Corporation had a net margin of 19.95% and a return on equity of 6.81%. During the same period in the previous year, the company earned $0.24 EPS.
A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price target on shares of F.N.B. Corporation in a report on Friday. Zacks Investment Research lowered shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.00 price target on shares of F.N.B. Corporation in a report on Tuesday, October 3rd. ValuEngine raised shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Boenning Scattergood raised shares of F.N.B. Corporation from a “neutral” rating to an “outperform” rating in a report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.39.
Shares of F.N.B. Corporation (FNB) opened at 13.46 on Tuesday. F.N.B. Corporation has a 52-week low of $12.02 and a 52-week high of $16.43. The stock has a market capitalization of $4.32 billion, a PE ratio of 17.32 and a beta of 0.97. The stock’s 50 day moving average is $13.43 and its 200 day moving average is $13.71.
Institutional investors have recently bought and sold shares of the company. Ffcm LLC bought a new position in shares of F.N.B. Corporation in the 2nd quarter worth about $114,000. Stifel Financial Corp lifted its position in shares of F.N.B. Corporation by 1.9% in the 2nd quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock worth $150,000 after buying an additional 202 shares during the last quarter. Park National Corp OH bought a new position in shares of F.N.B. Corporation in the 3rd quarter worth about $162,000. Jane Street Group LLC bought a new position in shares of F.N.B. Corporation in the 1st quarter worth about $169,000. Finally, Round Table Services LLC bought a new position in shares of F.N.B. Corporation in the 2nd quarter worth about $172,000. Institutional investors own 76.46% of the company’s stock.
In related news, Director Frank C. Mencini acquired 2,500 shares of F.N.B. Corporation stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $13.57 per share, for a total transaction of $33,925.00. Following the purchase, the director now directly owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary L. Guerrieri sold 7,000 shares of the stock in a transaction 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 transaction, the insider now owns 38,407 shares in the company, valued at $506,588.33. The disclosure for this sale can be found here. Corporate insiders own 1.21% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 3.57%. F.N.B. Corporation’s dividend payout ratio (DPR) is 62.34%.
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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