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

F.N.B. (NYSE:FNB) issued its quarterly earnings results on Thursday. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01, Yahoo Finance reports. The company had revenue of $406.87 million for the quarter, compared to analysts’ expectations of $406.96 million. F.N.B. had a return on equity of 9.51% and a net margin of 19.73%. During the same period in the prior year, the firm earned $0.40 earnings per share.

F.N.B. Trading Up 2.9 %

Shares of NYSE:FNB opened at $13.13 on Friday. The company has a market cap of $4.72 billion, a P/E ratio of 10.59, a PEG ratio of 8.78 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.90. F.N.B. has a 1 year low of $10.09 and a 1 year high of $14.19. The stock’s fifty day moving average price is $13.45 and its 200-day moving average price is $12.74.

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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, March 5th. F.N.B.’s payout ratio is currently 38.71%.

Insider Activity

In other F.N.B. news, Director William B. Campbell purchased 2,500 shares of the stock in a transaction dated Monday, February 26th. The shares were purchased 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 directly owns 145,388 shares in the company, valued at approximately $1,949,653.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of F.N.B.

A number of hedge funds have recently bought and sold shares of FNB. BlackRock Inc. increased its position in F.N.B. by 13.1% during the first quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock valued at $497,953,000 after acquiring an additional 4,625,329 shares during the last quarter. Norges Bank purchased a new stake in F.N.B. in the fourth quarter worth about $46,599,000. Vanguard Group Inc. increased its position in F.N.B. by 9.8% in the first quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock worth $437,721,000 after buying an additional 3,125,650 shares in the last quarter. Balyasny Asset Management L.P. increased its position in F.N.B. by 535.0% in the first quarter. Balyasny Asset Management L.P. now owns 1,891,779 shares of the bank’s stock worth $21,945,000 after buying an additional 1,593,871 shares in the last quarter. Finally, State Street Corp increased its position in F.N.B. by 5.3% in the first quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock worth $233,515,000 after buying an additional 942,178 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analyst Ratings Changes

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