F.N.B. (NYSE:FNB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

F.N.B. (NYSE:FNB) announced its quarterly earnings data on Wednesday. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01, Yahoo Finance reports. F.N.B. had a return on equity of 9.58% and a net margin of 19.73%. The company had revenue of $406.87 million during the quarter, compared to analyst estimates of $406.96 million. During the same quarter last year, the firm posted $0.40 EPS.

F.N.B. Price Performance

Shares of FNB traded up $0.36 during trading hours on Friday, reaching $13.12. 980,661 shares of the company’s stock traded hands, compared to its average volume of 2,105,873. The stock has a market cap of $4.71 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 8.81 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $13.46 and its 200-day simple moving average is $12.73. F.N.B. has a 12 month low of $10.09 and a 12 month high of $14.19.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.66%. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

Insider Activity

In other F.N.B. news, Director William B. Campbell purchased 2,500 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $13.41 per share, for a total transaction of $33,525.00. Following the transaction, the director now owns 145,388 shares in the company, valued at approximately $1,949,653.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Large investors have recently modified their holdings of the company. Prelude Capital Management LLC purchased a new position in shares of F.N.B. during the 3rd quarter valued at about $155,000. Eudaimonia Partners LLC purchased a new position in shares of F.N.B. during the 1st quarter valued at about $153,000. Forum Financial Management LP purchased a new position in shares of F.N.B. during the 1st quarter valued at about $142,000. Covestor Ltd raised its holdings in shares of F.N.B. by 57.8% during the 1st quarter. Covestor Ltd now owns 10,783 shares of the bank’s stock valued at $134,000 after buying an additional 3,948 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of F.N.B. during the 1st quarter valued at about $131,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FNB. Raymond James raised their target price on F.N.B. from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. StockNews.com downgraded F.N.B. from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Bank of America began coverage on F.N.B. in a research note on Thursday, January 11th. They issued a “buy” rating and a $15.00 target price for the company. Stephens cut their target price on F.N.B. from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company raised their target price on F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

About F.N.B.

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.