Zacks Investment Research Lowers F.N.B. Corporation (FNB) to Sell

Zacks Investment Research lowered shares of F.N.B. Corporation (NYSE:FNB) from a hold rating to a sell rating in a research report sent to investors on Monday, October 9th.

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 analysts have also recently commented on FNB. Jefferies Group LLC reiterated a buy rating and issued a $18.00 target price on shares of F.N.B. Corporation in a report on Friday, August 11th. ValuEngine upgraded F.N.B. Corporation from a hold rating to a buy rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $15.00 price target on shares of F.N.B. Corporation in a research note on Tuesday, October 3rd. BidaskClub lowered F.N.B. Corporation from a hold rating to a sell rating in a research note on Monday, July 24th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $15.00 price target on shares of F.N.B. Corporation in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. F.N.B. Corporation presently has an average rating of Buy and an average price target of $17.39.

F.N.B. Corporation (FNB) traded up 0.67% on Monday, hitting $13.59. 3,156,138 shares of the stock traded hands. F.N.B. Corporation has a 12-month low of $12.02 and a 12-month high of $16.43. The stock has a 50-day moving average of $13.41 and a 200-day moving average of $13.73. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 17.49 and a beta of 0.97.

F.N.B. Corporation (NYSE:FNB) last announced its earnings results on Thursday, October 19th. The bank reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. F.N.B. Corporation had a return on equity of 6.81% and a net margin of 19.95%. The business had revenue of $291.38 million for the quarter, compared to analysts’ expectations of $299.47 million. During the same period in the prior year, the business posted $0.24 earnings per share. Analysts forecast that F.N.B. Corporation will post $0.94 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, November 30th. F.N.B. Corporation’s payout ratio is 62.34%.

In other news, insider Gary L. Guerrieri sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $13.19, for a total transaction of $92,330.00. Following the transaction, the insider now directly owns 38,407 shares of the company’s stock, valued at $506,588.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William B. Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $13.90, for a total value of $41,700.00. Following the transaction, the director now directly owns 84,370 shares in the company, valued at $1,172,743. The disclosure for this sale can be found here. 1.21% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Ffcm LLC bought a new stake in F.N.B. Corporation during the second quarter worth $114,000. Stifel Financial Corp grew its holdings in F.N.B. Corporation by 1.9% during the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock worth $150,000 after buying an additional 202 shares in the last quarter. Park National Corp OH bought a new stake in F.N.B. Corporation during the third quarter worth $162,000. Jane Street Group LLC bought a new stake in F.N.B. Corporation during the first quarter worth $169,000. Finally, Round Table Services LLC bought a new stake in F.N.B. Corporation during the second quarter worth $172,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

About F.N.B. Corporation

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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