F.N.B. (NYSE:FNB) Announces Quarterly Earnings Results

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

F.N.B. Price Performance

F.N.B. stock traded up $0.20 during mid-day trading on Friday, reaching $12.96. The company had a trading volume of 536,121 shares, compared to its average volume of 2,100,645. F.N.B. has a 1 year low of $10.09 and a 1 year high of $14.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market capitalization of $4.66 billion, a P/E ratio of 10.40, a P/E/G ratio of 8.81 and a beta of 1.02. The stock’s 50-day simple moving average is $13.46 and its 200-day simple moving average is $12.73.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, March 6th were given a $0.12 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 3.70%. F.N.B.’s payout ratio is currently 38.71%.

Insider Buying and Selling at F.N.B.

In related news, Director William B. Campbell bought 2,500 shares of the company’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $13.41 per share, with a total value of $33,525.00. Following the completion of the acquisition, the director now owns 145,388 shares in the company, valued at approximately $1,949,653.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of F.N.B. by 4.1% during the 1st quarter. BlackRock Inc. now owns 44,998,378 shares of the bank’s stock worth $521,981,000 after purchasing an additional 1,761,208 shares in the last quarter. Vanguard Group Inc. grew its stake in F.N.B. by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 39,346,808 shares of the bank’s stock worth $541,806,000 after acquiring an additional 156,120 shares during the period. State Street Corp grew its stake in F.N.B. by 5.3% in the 1st quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock worth $233,515,000 after acquiring an additional 942,178 shares during the period. Macquarie Group Ltd. grew its stake in F.N.B. by 0.3% in the 1st quarter. Macquarie Group Ltd. now owns 12,879,470 shares of the bank’s stock worth $149,402,000 after acquiring an additional 34,932 shares during the period. Finally, Geode Capital Management LLC grew its stake in F.N.B. by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 5,071,412 shares of the bank’s stock worth $58,828,000 after acquiring an additional 233,391 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

F.N.B. Company Profile

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.