Fmr LLC trimmed its holdings in shares of F.N.B. Corp (NYSE:FNB) by 24.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,651,616 shares of the bank’s stock after selling 4,135,574 shares during the period. Fmr LLC owned about 3.90% of F.N.B. worth $160,929,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in shares of F.N.B. during the 2nd quarter worth approximately $124,000. ING Groep NV purchased a new position in shares of F.N.B. during the 2nd quarter worth approximately $136,000. Lourd Capital LLC purchased a new position in shares of F.N.B. during the 3rd quarter worth approximately $131,000. First Allied Advisory Services Inc. purchased a new position in shares of F.N.B. during the 2nd quarter worth approximately $155,000. Finally, Stratos Wealth Partners LTD. purchased a new position in F.N.B. in the 3rd quarter valued at approximately $185,000. 79.89% of the stock is owned by institutional investors and hedge funds.
NYSE FNB opened at $11.25 on Friday. F.N.B. Corp has a 1-year low of $11.03 and a 1-year high of $14.91. The company has a market capitalization of $3.74 billion, a P/E ratio of 12.10, a PEG ratio of 1.10 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.14.
F.N.B. (NYSE:FNB) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. F.N.B. had a return on equity of 8.03% and a net margin of 20.94%. The firm had revenue of $309.60 million during the quarter, compared to the consensus estimate of $313.18 million. During the same period last year, the business posted $0.24 EPS. F.N.B.’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that F.N.B. Corp will post 1.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Friday, November 30th. F.N.B.’s payout ratio is 51.61%.
FNB has been the subject of several research analyst reports. Zacks Investment Research downgraded F.N.B. from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. ValuEngine raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Wells Fargo & Co set a $15.00 price objective on F.N.B. and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.33.
In related news, CFO Vincent J. Calabrese purchased 5,000 shares of the company’s stock in a transaction on Friday, October 26th. The stock was bought at an average price of $11.21 per share, with a total value of $56,050.00. Following the completion of the transaction, the chief financial officer now owns 115,974 shares of the company’s stock, valued at approximately $1,300,068.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Jo Dively purchased 3,000 shares of the company’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $12.24 per share, with a total value of $36,720.00. Following the transaction, the director now directly owns 11,900 shares of the company’s stock, valued at approximately $145,656. The disclosure for this purchase can be found here. Insiders have acquired 22,500 shares of company stock valued at $257,895 in the last three months. 0.63% of the stock is currently owned by company insiders.
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through four segments: Community Banking, Wealth Management, Insurance, and Consumer Finance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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