Shares of F.N.B. Corporation (NYSE:FNB) saw unusually-high trading volume on Friday . Approximately 7,144,542 shares changed hands during mid-day trading, an increase of 146% from the previous session’s volume of 2,899,450 shares.The stock last traded at $12.79 and had previously closed at $12.66.
FNB has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $18.00 target price on shares of F.N.B. Corporation in a research note on Friday, July 14th. ValuEngine upgraded F.N.B. Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded F.N.B. Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods upgraded F.N.B. Corporation to a “hold” rating and set a $16.00 target price on the stock in a research note on Monday, June 5th. Finally, Boenning Scattergood restated a “hold” rating on shares of F.N.B. Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.55.
The stock’s 50 day moving average price is $12.98 and its 200-day moving average price is $14.01. The company has a market cap of $4.11 billion, a P/E ratio of 16.46 and a beta of 0.96.
F.N.B. Corporation (NYSE:FNB) last released its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $284.50 million for the quarter, compared to the consensus estimate of $294.39 million. F.N.B. Corporation had a return on equity of 6.97% and a net margin of 19.43%. F.N.B. Corporation’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. Equities research analysts anticipate that F.N.B. Corporation will post $0.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 3.75%. F.N.B. Corporation’s dividend payout ratio (DPR) is presently 61.54%.
In related news, Director Frank C. Mencini bought 2,500 shares of the 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 completion of the transaction, the director now owns 19,977 shares of the company’s stock, valued at $271,087.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William B. Campbell sold 3,000 shares of F.N.B. Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $13.90, for a total value of $41,700.00. Following the transaction, the director now owns 84,370 shares in the company, valued at $1,172,743. The disclosure for this sale can be found here. 1.21% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC lifted its position in F.N.B. Corporation by 5.5% during the first quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock valued at $101,000 after purchasing an additional 352 shares in the last quarter. Ffcm LLC purchased a new position in F.N.B. Corporation during the second quarter valued at $114,000. Israel Discount Bank of New York purchased a new position in F.N.B. Corporation during the first quarter valued at $120,000. Elkfork Partners LLC lifted its position in F.N.B. Corporation by 5.5% during the first quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock valued at $138,000 after purchasing an additional 484 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in F.N.B. Corporation by 1.9% during the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock valued at $150,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.
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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