F.N.B. Corp. (NYSE:FNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
FNB has been the subject of a number of other reports. Jefferies Group reaffirmed a “buy” rating and set a $14.00 price target on shares of F.N.B. Corp. in a research report on Thursday, July 7th. FBR & Co decreased their price objective on shares of F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating for the company in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of F.N.B. Corp. from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $13.80.
F.N.B. Corp. (NYSE:FNB) opened at 12.16 on Friday. The company’s 50 day moving average price is $12.31 and its 200-day moving average price is $12.62. F.N.B. Corp. has a 12-month low of $11.16 and a 12-month high of $14.66. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 16.61 and a beta of 1.02.
F.N.B. Corp. (NYSE:FNB) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. F.N.B. Corp. had a return on equity of 7.60% and a net margin of 18.64%. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, analysts forecast that F.N.B. Corp. will post $0.79 EPS for the current year.
In related news, CEO Vincent J. Delie, Jr. bought 5,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $11.97 per share, for a total transaction of $59,850.00. Following the purchase, the chief executive officer now owns 175,054 shares in the company, valued at approximately $2,095,396.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert A. Hormell bought 3,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $12.35 per share, for a total transaction of $37,050.00. Following the purchase, the director now owns 54,217 shares in the company, valued at approximately $669,579.95. The disclosure for this purchase can be found here. 1.63% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of F.N.B. Corp. by 57.3% in the first quarter. State Street Corp now owns 9,440,981 shares of the company’s stock worth $122,823,000 after buying an additional 3,440,810 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of F.N.B. Corp. during the second quarter worth about $26,347,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of F.N.B. Corp. by 46.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,322,966 shares of the company’s stock worth $82,262,000 after buying an additional 1,996,847 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of F.N.B. Corp. by 323.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,800,371 shares of the company’s stock worth $23,423,000 after buying an additional 1,375,285 shares during the period. Finally, FMR LLC raised its stake in shares of F.N.B. Corp. by 37.0% in the second quarter. FMR LLC now owns 3,873,500 shares of the company’s stock worth $48,574,000 after buying an additional 1,046,900 shares during the period. Institutional investors and hedge funds own 68.65% of the company’s stock.
About F.N.B. Corp.
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.