F.N.B. Corporation (FNB) Upgraded by Boenning Scattergood to Outperform
F.N.B. Corporation (NYSE:FNB) was upgraded by research analysts at Boenning Scattergood from a “neutral” rating to an “outperform” rating in a report released on Monday.
FNB has been the subject of a number of other research reports. BidaskClub upgraded shares of F.N.B. Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. ValuEngine upgraded shares of F.N.B. Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. J P Morgan Chase & Co upgraded shares of F.N.B. Corporation from a “neutral” rating to an “overweight” rating and set a $17.50 target price for the company in a research report on Tuesday, May 23rd. Finally, FIG Partners upgraded shares of F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.75.
F.N.B. Corporation (FNB) opened at 12.94 on Monday. The stock has a market capitalization of $4.16 billion, a PE ratio of 16.65 and a beta of 0.94. F.N.B. Corporation has a 12-month low of $11.86 and a 12-month high of $16.43. The stock’s 50 day moving average is $13.53 and its 200 day moving average is $14.28.
F.N.B. Corporation (NYSE:FNB) last issued its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $284.50 million during the quarter, compared to analyst estimates of $294.39 million. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Analysts forecast that F.N.B. Corporation will post $0.95 EPS for the current year.
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In other news, Director William B. Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $13.90, for a total value of $41,700.00. Following the sale, the director now directly owns 84,370 shares of the company’s stock, valued at $1,172,743. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank C. Mencini purchased 2,500 shares of the stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $13.57 per share, for a total transaction of $33,925.00. Following the completion of the acquisition, the director now owns 19,977 shares of the company’s stock, valued at approximately $271,087.89. The disclosure for this purchase can be found here. Corporate insiders own 1.21% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Tyers Asset Management LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock worth $101,000 after buying an additional 352 shares during the last quarter. Ffcm LLC purchased a new stake in shares of F.N.B. Corporation during the second quarter worth about $114,000. Israel Discount Bank of New York purchased a new stake in shares of F.N.B. Corporation during the first quarter worth about $120,000. Elkfork Partners LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock worth $138,000 after buying an additional 484 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of F.N.B. Corporation by 1.9% in 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 during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
F.N.B. Corporation Company Profile
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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