Louisiana State Employees Retirement System increased its stake in shares of F.N.B. Corporation (NYSE:FNB) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,300 shares of the bank’s stock after buying an additional 3,400 shares during the period. Louisiana State Employees Retirement System’s holdings in F.N.B. Corporation were worth $1,194,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in FNB. Tyers Asset Management LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock valued at $101,000 after buying an additional 352 shares in the last quarter. Israel Discount Bank of New York bought a new stake in shares of F.N.B. Corporation during the first quarter valued at about $120,000. Elkfork Partners LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock valued at $138,000 after buying an additional 484 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of F.N.B. Corporation during the first quarter valued at about $158,000. Finally, Raymond James Trust N.A. increased its stake in shares of F.N.B. Corporation by 0.6% in the first quarter. Raymond James Trust N.A. now owns 10,678 shares of the bank’s stock valued at $159,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 76.68% of the company’s stock.
Shares of F.N.B. Corporation (FNB) traded up 0.31% during trading on Friday, hitting $12.78. 2,295,624 shares of the stock traded hands. The company has a market cap of $4.11 billion, a PE ratio of 16.45 and a beta of 0.94. The firm has a 50 day moving average price of $13.71 and a 200-day moving average price of $14.35. F.N.B. Corporation has a one year low of $11.86 and a one year high of $16.43.
F.N.B. Corporation (NYSE:FNB) last posted its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.23. The business had revenue of $284.50 million for the quarter, compared to analysts’ expectations of $294.39 million. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Analysts anticipate that F.N.B. Corporation will post $0.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 3.76%. F.N.B. Corporation’s payout ratio is currently 61.54%.
Several analysts recently issued reports on the company. Jefferies Group LLC set a $18.00 price target on F.N.B. Corporation and gave the company a “buy” rating in a report on Saturday, May 6th. BidaskClub upgraded F.N.B. Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. ValuEngine downgraded F.N.B. Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded F.N.B. Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, FIG Partners upgraded F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $17.75.
In other news, Director Frank C. Mencini purchased 2,500 shares of F.N.B. Corporation stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost 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 in the company, valued at $271,087.89. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary L. Guerrieri sold 7,000 shares of the business’s 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 completion of the transaction, the insider now owns 38,407 shares in the company, valued at $506,588.33. The disclosure for this sale can be found here. Insiders own 1.21% 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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