F.N.B. (FNB) Raised to Hold at Zacks Investment Research

F.N.B. (NYSE:FNB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, December 19th.

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 research firms have also weighed in on FNB. ValuEngine raised F.N.B. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of F.N.B. in a report on Tuesday, October 3rd. Stephens started coverage on F.N.B. in a report on Wednesday, December 13th. They issued an “equal weight” rating for the company. Royal Bank of Canada reissued a “hold” rating and issued a $15.00 target price on shares of F.N.B. in a report on Friday, October 20th. Finally, Boenning Scattergood raised F.N.B. from a “neutral” rating to an “outperform” rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.20.

Shares of F.N.B. (NYSE FNB) traded up $0.05 during trading hours on Tuesday, hitting $14.49. The stock had a trading volume of 1,909,400 shares, compared to its average volume of 2,350,092. F.N.B. has a 12-month low of $12.02 and a 12-month high of $16.33. The company has a market cap of $4,668.60, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. F.N.B. had a return on equity of 6.81% and a net margin of 19.95%. The firm had revenue of $291.38 million during the quarter, compared to analyst estimates of $299.47 million. During the same quarter in the prior year, the company earned $0.24 EPS. analysts forecast that F.N.B. will post 0.92 earnings per share for the current fiscal year.

In other news, insider Robert M. Moorehead bought 5,000 shares of F.N.B. stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $13.46 per share, with a total value of $67,300.00. Following the completion of the acquisition, the insider now owns 25,312 shares of the company’s stock, valued at approximately $340,699.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank C. Mencini bought 2,000 shares of F.N.B. stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $12.93 per share, for a total transaction of $25,860.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,500 shares of company stock worth $113,350. Insiders own 1.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in F.N.B. by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,139,637 shares of the bank’s stock worth $384,298,000 after acquiring an additional 781,511 shares during the last quarter. State Street Corp increased its stake in F.N.B. by 3.2% during the second quarter. State Street Corp now owns 18,107,627 shares of the bank’s stock worth $256,409,000 after acquiring an additional 555,996 shares during the last quarter. Neuberger Berman Group LLC increased its stake in F.N.B. by 16.6% during the second quarter. Neuberger Berman Group LLC now owns 11,400,820 shares of the bank’s stock worth $161,436,000 after acquiring an additional 1,620,392 shares during the last quarter. FMR LLC increased its stake in F.N.B. by 15.5% during the second quarter. FMR LLC now owns 9,337,204 shares of the bank’s stock worth $132,214,000 after acquiring an additional 1,253,800 shares during the last quarter. Finally, Hamlin Capital Management LLC increased its stake in F.N.B. by 23.2% during the third quarter. Hamlin Capital Management LLC now owns 5,691,678 shares of the bank’s stock worth $79,854,000 after acquiring an additional 1,071,738 shares during the last quarter. 75.96% of the stock is currently owned by institutional investors.

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About F.N.B.

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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