Zacks Investment Research upgraded shares of FNB (NYSE:FNB) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $15.00 target price on the bank’s stock.
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 brokerages have also recently issued reports on FNB. ValuEngine raised FNB from a hold rating to a buy rating in a report on Wednesday, March 7th. Boenning Scattergood assumed coverage on FNB in a report on Tuesday, January 23rd. They issued a buy rating on the stock. Jefferies Group reaffirmed a buy rating and issued a $17.00 target price on shares of FNB in a report on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $16.50 target price on shares of FNB in a report on Friday, December 22nd. Finally, SunTrust Banks reaffirmed a buy rating and issued a $17.00 target price on shares of FNB in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $16.89.
Shares of FNB stock opened at $13.17 on Friday. FNB has a 12-month low of $12.02 and a 12-month high of $15.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4,260.80, a PE ratio of 14.16, a PEG ratio of 1.22 and a beta of 0.88.
FNB (NYSE:FNB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. FNB had a return on equity of 6.69% and a net margin of 16.00%. The firm had revenue of $295.14 million for the quarter, compared to analysts’ expectations of $295.89 million. During the same period in the previous year, the firm posted $0.24 earnings per share. analysts predict that FNB will post 1.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Monday, March 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.48 annualized dividend and a yield of 3.64%. FNB’s dividend payout ratio is currently 51.61%.
In related news, Director Pamela A. Bena purchased 2,750 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of $14.15 per share, for a total transaction of $38,912.50. Following the completion of the transaction, the director now owns 3,850 shares in the company, valued at approximately $54,477.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank C. Mencini purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $13.81 per share, with a total value of $27,620.00. Following the transaction, the director now owns 24,611 shares of the company’s stock, valued at approximately $339,877.91. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 6,250 shares of company stock valued at $86,633. 1.21% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew its position in FNB by 24.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 108,171 shares of the bank’s stock worth $1,495,000 after acquiring an additional 21,397 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in FNB in the fourth quarter worth about $401,000. MetLife Investment Advisors LLC purchased a new position in shares of FNB during the fourth quarter valued at approximately $2,826,000. Vident Investment Advisory LLC purchased a new position in shares of FNB during the fourth quarter valued at approximately $152,000. Finally, Sciencast Management LP purchased a new position in shares of FNB during the fourth quarter valued at approximately $288,000. Institutional investors own 79.02% of the company’s stock.
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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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