SunTrust Banks Brokers Lower Earnings Estimates for F.N.B. Corporation (FNB)
F.N.B. Corporation (NYSE:FNB) – Equities research analysts at SunTrust Banks dropped their FY2017 earnings per share estimates for shares of F.N.B. Corporation in a research note issued on Tuesday. SunTrust Banks analyst M. Young now anticipates that the bank will earn $0.93 per share for the year, down from their previous forecast of $0.98. SunTrust Banks also issued estimates for F.N.B. Corporation’s Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.28 EPS, FY2018 earnings at $1.06 EPS and FY2019 earnings at $1.15 EPS.
FNB has been the topic of a number of other reports. BidaskClub lowered shares of F.N.B. Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of F.N.B. Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 target price on shares of F.N.B. Corporation in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of F.N.B. Corporation in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.00 target price on shares of F.N.B. Corporation in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. F.N.B. Corporation presently has a consensus rating of “Buy” and an average price target of $17.39.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/02/suntrust-banks-brokers-lower-earnings-estimates-for-f-n-b-corporation-fnb.html. F.N.B. Corporation (NYSE:FNB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.24 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 company had revenue of $291.38 million for the quarter, compared to analyst estimates of $299.47 million. During the same period in the prior year, the company earned $0.24 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in FNB. JPMorgan Chase & Co. boosted its holdings in F.N.B. Corporation by 3,002.9% during the first quarter. JPMorgan Chase & Co. now owns 47,567 shares of the bank’s stock worth $708,000 after buying an additional 46,034 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in F.N.B. Corporation during the first quarter worth about $305,000. UBS Group AG boosted its holdings in F.N.B. Corporation by 83.3% during the first quarter. UBS Group AG now owns 174,766 shares of the bank’s stock worth $2,599,000 after buying an additional 79,430 shares in the last quarter. Morgan Stanley boosted its holdings in F.N.B. Corporation by 10.9% during the first quarter. Morgan Stanley now owns 1,298,558 shares of the bank’s stock worth $19,310,000 after buying an additional 127,310 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in F.N.B. Corporation by 58.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,590,279 shares of the bank’s stock worth $23,648,000 after buying an additional 585,402 shares in the last quarter. 76.97% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Gary L. Guerrieri sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $13.19, for a total transaction of $92,330.00. Following the sale, the insider now 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 can be accessed through this link. Also, Director Frank C. Mencini acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $13.57 per share, for a total transaction of $33,925.00. Following the acquisition, 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. 1.21% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, November 30th. F.N.B. Corporation’s payout ratio 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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