Renaissance Technologies LLC lowered its holdings in F.N.B. Corporation (NYSE:FNB) by 32.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,355,100 shares of the bank’s stock after selling 657,128 shares during the period. Renaissance Technologies LLC owned approximately 0.42% of F.N.B. Corporation worth $19,188,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in FNB. BlackRock Inc. raised its holdings in shares of F.N.B. Corporation by 25,256.7% in the 1st quarter. BlackRock Inc. now owns 36,800,404 shares of the bank’s stock valued at $547,224,000 after acquiring an additional 36,655,273 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of F.N.B. Corporation by 55.1% in the 1st quarter. Vanguard Group Inc. now owns 26,358,126 shares of the bank’s stock valued at $391,945,000 after acquiring an additional 9,358,583 shares in the last quarter. State Street Corp raised its holdings in shares of F.N.B. Corporation by 44.6% in the 1st quarter. State Street Corp now owns 17,551,631 shares of the bank’s stock valued at $260,994,000 after acquiring an additional 5,411,024 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of F.N.B. Corporation by 5,740.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,778,289 shares of the bank’s stock valued at $39,341,000 after acquiring an additional 2,730,722 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of F.N.B. Corporation by 35.7% in the 1st quarter. FMR LLC now owns 8,083,404 shares of the bank’s stock valued at $120,201,000 after acquiring an additional 2,127,104 shares in the last quarter. 76.41% 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 stock was sold at an average price of $13.19, for a total value of $92,330.00. Following the sale, the insider now directly owns 38,407 shares in the company, valued at $506,588.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank C. Mencini bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $13.57 per share, for a total transaction of $33,925.00. Following the completion of the transaction, the director now directly 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 currently owned by insiders.
Several analysts have weighed in on FNB shares. BidaskClub cut F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. ValuEngine raised F.N.B. Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of F.N.B. Corporation in a report on Friday, July 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of F.N.B. Corporation in a report on Friday, July 21st. Finally, FIG Partners raised F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.39.
Shares of F.N.B. Corporation (NYSE:FNB) opened at 13.99 on Friday. The firm has a 50 day moving average price of $13.24 and a 200 day moving average price of $13.77. F.N.B. Corporation has a 12-month low of $12.02 and a 12-month high of $16.43. The stock has a market cap of $4.49 billion, a PE ratio of 18.01 and a beta of 0.97.
F.N.B. Corporation (NYSE:FNB) last posted its earnings results on Thursday, July 20th. The bank reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities analysts expect that F.N.B. Corporation will post $0.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.12 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.43%. F.N.B. Corporation’s dividend payout ratio is currently 61.54%.
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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