State Treasurer State of Michigan decreased its holdings in shares of F.N.B. Corporation (NYSE:FNB) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,600 shares of the bank’s stock after selling 11,600 shares during the quarter. State Treasurer State of Michigan’s holdings in F.N.B. Corporation were worth $1,706,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new position in F.N.B. Corporation in the second quarter valued at approximately $273,000. Louisiana State Employees Retirement System lifted its stake in F.N.B. Corporation by 4.2% in the second quarter. Louisiana State Employees Retirement System now owns 84,300 shares of the bank’s stock valued at $1,194,000 after buying an additional 3,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in F.N.B. Corporation by 12.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 81,448 shares of the bank’s stock valued at $1,153,000 after buying an additional 9,243 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in shares of F.N.B. Corporation in the second quarter worth $674,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of F.N.B. Corporation in the second quarter worth $5,600,000. Institutional investors own 77.15% of the company’s stock.
In other F.N.B. Corporation news, Director Frank C. Mencini bought 2,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were bought at an average cost of $12.93 per share, for a total transaction of $25,860.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert M. Moorehead acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average cost of $13.46 per share, with a total value of $67,300.00. Following the acquisition, the insider now owns 25,312 shares in the company, valued at approximately $340,699.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 8,500 shares of company stock worth $113,350. Company insiders own 1.21% of the company’s stock.
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A number of brokerages have recently commented on FNB. ValuEngine raised shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of F.N.B. Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price objective on shares of F.N.B. Corporation in a report on Tuesday, October 3rd. Boenning Scattergood reiterated a “hold” rating on shares of F.N.B. Corporation in a report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $15.00 price target on shares of F.N.B. Corporation in a research note on Friday, October 20th. Two equities 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 issued a strong buy rating to the company. F.N.B. Corporation has a consensus rating of “Buy” and a consensus price target of $17.39.
F.N.B. Corporation (NYSE FNB) opened at $13.12 on Tuesday. The stock has a market cap of $4,240.00, a P/E ratio of 13.73, a P/E/G ratio of 1.47 and a beta of 0.94. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. F.N.B. Corporation has a fifty-two week low of $12.02 and a fifty-two week high of $16.43.
F.N.B. Corporation (NYSE:FNB) last released its earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. F.N.B. Corporation had a net margin of 19.95% and a return on equity of 6.81%. The business had revenue of $291.38 million during the quarter, compared to the consensus estimate of $299.47 million. During the same quarter in the prior year, the firm posted $0.24 EPS. equities analysts expect that F.N.B. Corporation will post 0.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Thursday, November 30th. F.N.B. Corporation’s dividend payout ratio is currently 61.54%.
F.N.B. Corporation 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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