Vanguard Group Inc. Raises Position in F.N.B. Corp. (FNB)
Vanguard Group Inc. raised its position in shares of F.N.B. Corp. (NYSE:FNB) by 7.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 15,420,833 shares of the company’s stock after buying an additional 1,021,654 shares during the period. Vanguard Group Inc. owned about 7.46% of F.N.B. Corp. worth $193,378,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNB. Capstone Asset Management Co. boosted its position in F.N.B. Corp. by 1.1% in the second quarter. Capstone Asset Management Co. now owns 11,819 shares of the company’s stock worth $148,000 after buying an additional 130 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in F.N.B. Corp. by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 70,156 shares of the company’s stock worth $880,000 after buying an additional 1,698 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in F.N.B. Corp. by 7.8% in the first quarter. Commonwealth Equity Services Inc now owns 23,730 shares of the company’s stock worth $309,000 after buying an additional 1,720 shares in the last quarter. Strs Ohio boosted its position in F.N.B. Corp. by 7.0% in the second quarter. Strs Ohio now owns 27,400 shares of the company’s stock worth $343,000 after buying an additional 1,800 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in F.N.B. Corp. by 8.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,528 shares of the company’s stock worth $332,000 after buying an additional 1,975 shares in the last quarter. Hedge funds and other institutional investors own 68.65% of the company’s stock.
F.N.B. Corp. (NYSE:FNB) opened at 12.16 on Tuesday. The company has a 50 day moving average price of $12.31 and a 200-day moving average price of $12.62. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 16.61 and a beta of 1.02. F.N.B. Corp. has a 1-year low of $11.16 and a 1-year high of $14.66.
F.N.B. Corp. (NYSE:FNB) last released its earnings results on Thursday, July 21st. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. F.N.B. Corp. had a net margin of 18.64% and a return on equity of 7.60%. During the same period in the prior year, the firm posted $0.22 EPS. On average, analysts forecast that F.N.B. Corp. will post $0.79 EPS for the current fiscal year.
A number of research firms have issued reports on FNB. JPMorgan Chase & Co. reiterated a “hold” rating on shares of F.N.B. Corp. in a research report on Saturday, July 9th. FBR & Co reduced their price target on F.N.B. Corp. from $14.00 to $13.00 and set a “mkt perform” rating on the stock in a report on Friday, July 22nd. Zacks Investment Research cut F.N.B. Corp. from a “buy” rating to a “hold” rating in a report on Friday. Finally, Jefferies Group restated a “buy” rating and set a $14.00 price target on shares of F.N.B. Corp. in a report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. F.N.B. Corp. has a consensus rating of “Buy” and a consensus price target of $13.80.
In other news, Director Robert A. Hormell acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average price of $12.35 per share, with a total value of $37,050.00. Following the completion of the purchase, the director now directly owns 54,217 shares in the company, valued at $669,579.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent J. Delie, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $11.97 per share, for a total transaction of $59,850.00. Following the purchase, the chief executive officer now owns 175,054 shares of the company’s stock, valued at $2,095,396.38. The disclosure for this purchase can be found here. 1.63% of the stock is owned by corporate insiders.
F.N.B. Corp. 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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