F.N.B. Corporation (NYSE:FNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
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. “
A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of F.N.B. Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price target on shares of F.N.B. Corporation in a research note on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of F.N.B. Corporation in a research note on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.00 price target on shares of F.N.B. Corporation in a research note on Tuesday, October 3rd. Finally, Boenning Scattergood raised shares of F.N.B. Corporation from a “neutral” rating to an “outperform” rating in a research note on Monday, August 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. F.N.B. Corporation currently has a consensus rating of “Buy” and an average price target of $17.39.
F.N.B. Corporation (NYSE FNB) opened at 14.07 on Monday. The company has a market capitalization of $4.52 billion, a P/E ratio of 18.11 and a beta of 0.97. The stock’s 50 day moving average is $13.17 and its 200 day moving average is $13.77. F.N.B. Corporation has a 52 week low of $12.02 and a 52 week high of $16.43.
F.N.B. Corporation (NYSE:FNB) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The business had revenue of $284.50 million during the quarter, compared to analysts’ expectations of $294.39 million. During the same period last year, the company posted $0.22 EPS. The business’s revenue was up 24.8% on a year-over-year basis. On average, equities research analysts expect that F.N.B. Corporation will post $0.95 earnings per share for the current year.
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In related news, Director Frank C. Mencini acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $13.57 per share, for a total transaction of $33,925.00. Following the acquisition, the director now directly owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary L. Guerrieri sold 7,000 shares of F.N.B. Corporation 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 approximately $506,588.33. The disclosure for this sale can be found here. 1.21% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in F.N.B. Corporation by 25,256.7% during the 1st quarter. BlackRock Inc. now owns 36,800,404 shares of the bank’s stock valued at $547,224,000 after buying an additional 36,655,273 shares in the last quarter. Vanguard Group Inc. lifted its holdings in F.N.B. Corporation by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,139,637 shares of the bank’s stock valued at $384,298,000 after buying an additional 781,511 shares in the last quarter. State Street Corp lifted its holdings in F.N.B. Corporation by 3.2% during the 2nd quarter. State Street Corp now owns 18,107,627 shares of the bank’s stock valued at $256,409,000 after buying an additional 555,996 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in F.N.B. Corporation by 16.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock valued at $161,436,000 after buying an additional 1,620,392 shares in the last quarter. Finally, FMR LLC lifted its holdings in F.N.B. Corporation by 15.5% during the 2nd quarter. FMR LLC now owns 9,337,204 shares of the bank’s stock valued at $132,214,000 after buying an additional 1,253,800 shares in the last quarter. Institutional investors own 76.41% 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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