Zacks Investment Research downgraded shares of F.N.B. (NYSE:FNB) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
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. “
Several other equities analysts have also recently weighed in on FNB. ValuEngine cut F.N.B. from a hold rating to a sell rating in a report on Monday, July 2nd. Raymond James cut F.N.B. from a strong-buy rating to an outperform rating and set a $19.00 price objective on the stock. in a report on Wednesday, July 25th. Boenning Scattergood reiterated a buy rating on shares of F.N.B. in a report on Wednesday, July 25th. Finally, Wells Fargo & Co set a $15.00 price objective on F.N.B. and gave the company a buy rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. F.N.B. currently has a consensus rating of Hold and a consensus target price of $16.14.
NYSE:FNB opened at $12.80 on Friday. F.N.B. has a fifty-two week low of $12.44 and a fifty-two week high of $14.91. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.12 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92.
F.N.B. (NYSE:FNB) last released its quarterly earnings data on Tuesday, July 24th. The bank reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. F.N.B. had a return on equity of 7.70% and a net margin of 19.91%. The business had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $305.86 million. During the same quarter in the previous year, the business posted $0.23 EPS. F.N.B.’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts expect that F.N.B. will post 1.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 15th. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Friday, August 31st. F.N.B.’s dividend payout ratio (DPR) is presently 51.61%.
In other news, Director Frank C. Mencini bought 2,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were purchased at an average price of $13.07 per share, for a total transaction of $26,140.00. Following the purchase, the director now owns 32,681 shares of the company’s stock, valued at approximately $427,140.67. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd bought a new stake in F.N.B. in the 2nd quarter valued at approximately $124,000. ING Groep NV bought a new stake in F.N.B. in the 2nd quarter valued at approximately $136,000. Winthrop Partners WNY LLC bought a new stake in F.N.B. in the 1st quarter valued at approximately $142,000. First Allied Advisory Services Inc. bought a new stake in F.N.B. in the 2nd quarter valued at approximately $155,000. Finally, WealthPLAN Partners LLC lifted its stake in F.N.B. by 4,258.7% in the 1st quarter. WealthPLAN Partners LLC now owns 13,817 shares of the bank’s stock valued at $186,000 after acquiring an additional 13,500 shares in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through four segments: Community Banking, Wealth Management, Insurance, and Consumer Finance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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