F.N.B. (FNB) Downgraded to Hold at Zacks Investment Research

F.N.B. (NYSE:FNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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 brokerages have also recently commented on FNB. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.50 price target on shares of F.N.B. in a research report on Friday, December 22nd. Stephens assumed coverage on F.N.B. in a research report on Wednesday, December 13th. They set an “equal weight” rating for the company. Royal Bank of Canada reiterated a “hold” rating and set a $15.00 price target on shares of F.N.B. in a research report on Friday, October 20th. ValuEngine cut F.N.B. from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, SunTrust Banks reiterated a “buy” rating and set a $17.00 price target on shares of F.N.B. in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. F.N.B. has a consensus rating of “Buy” and a consensus price target of $17.10.

F.N.B. (NYSE FNB) traded up $0.05 during trading on Tuesday, hitting $13.90. The stock had a trading volume of 1,788,805 shares, compared to its average volume of 2,439,095. The stock has a market capitalization of $4,460.00, a PE ratio of 22.79, a PEG ratio of 1.28 and a beta of 0.91. F.N.B. has a 1-year low of $12.02 and a 1-year high of $16.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.82 and a quick ratio of 0.82.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.24 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.24. The business had revenue of $295.14 million during the quarter, compared to analysts’ expectations of $295.89 million. F.N.B. had a return on equity of 6.69% and a net margin of 16.00%. During the same period in the previous year, the business earned $0.24 earnings per share. equities analysts forecast that F.N.B. will post 1.13 EPS for the current fiscal year.

In related news, Director Frank C. Mencini acquired 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were bought at an average price of $13.81 per share, with a total value of $27,620.00. Following the completion of the purchase, the director now owns 24,611 shares of the company’s stock, valued at approximately $339,877.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela A. Bena acquired 2,750 shares of the stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $14.15 per share, for a total transaction of $38,912.50. Following the purchase, the director now directly owns 3,850 shares of the company’s stock, valued at approximately $54,477.50. The disclosure for this purchase can be found here. Insiders have acquired 6,250 shares of company stock worth $86,633 in the last three months. 1.21% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNB. Franklin Street Advisors Inc. NC acquired a new position in F.N.B. during the fourth quarter worth $139,000. Stifel Financial Corp boosted its stake in F.N.B. by 1.9% during the second 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. First Allied Advisory Services Inc. acquired a new position in F.N.B. during the third quarter worth $150,000. Park National Corp OH acquired a new position in F.N.B. during the third quarter worth $162,000. Finally, CIBC Asset Management Inc acquired a new position in F.N.B. during the third quarter worth $163,000. 76.62% of the stock is currently owned by institutional investors.

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F.N.B. 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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Analyst Recommendations for F.N.B. (NYSE:FNB)

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