Jefferies Group LLC Reaffirms “Buy” Rating for F.N.B. Corporation (NYSE:FNB)
F.N.B. Corporation (NYSE:FNB)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $18.00 target price on the bank’s stock. Jefferies Group LLC’s price target points to a potential upside of 38.57% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. FBR & Co reaffirmed a “buy” rating and set a $19.00 target price on shares of F.N.B. Corporation in a research note on Wednesday, April 26th. JPMorgan Chase & Co. raised shares of F.N.B. Corporation from a “neutral” rating to an “overweight” rating and set a $17.50 target price on the stock in a research note on Tuesday, May 23rd. BidaskClub downgraded shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of F.N.B. Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Finally, Raymond James Financial, Inc. began coverage on shares of F.N.B. Corporation in a research report on Tuesday, June 13th. They issued a “strong-buy” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. F.N.B. Corporation presently has an average rating of “Buy” and an average price target of $17.75.
F.N.B. Corporation (NYSE FNB) opened at 12.99 on Friday. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 16.72 and a beta of 0.94. F.N.B. Corporation has a one year low of $11.86 and a one year high of $16.43. The company’s 50-day moving average is $13.83 and its 200 day moving average is $14.43.
F.N.B. Corporation (NYSE:FNB) last announced its earnings results on Thursday, July 20th. The bank reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The firm had revenue of $284.50 million for the quarter, compared to the consensus estimate of $294.39 million. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts expect that F.N.B. Corporation will post $0.95 EPS for the current year.
In other news, Director Frank C. Mencini acquired 2,500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $13.57 per share, with a total value of $33,925.00. Following the transaction, the director now owns 19,977 shares in the company, valued at approximately $271,087.89. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary L. Guerrieri sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $13.19, for a total transaction of $92,330.00. Following the completion of the sale, the insider now directly owns 38,407 shares in the company, valued at $506,588.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,000 shares of company stock worth $403,260. Insiders own 1.21% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Trust N.A. increased its position in F.N.B. Corporation by 0.6% in the first quarter. Raymond James Trust N.A. now owns 10,678 shares of the bank’s stock worth $159,000 after buying an additional 60 shares during the period. Creative Planning increased its position in F.N.B. Corporation by 33.1% in the first quarter. Creative Planning now owns 87,542 shares of the bank’s stock worth $1,302,000 after buying an additional 21,782 shares during the period. GW&K Investment Management LLC bought a new position in F.N.B. Corporation during the first quarter worth approximately $158,000. Bank of Montreal Can increased its position in F.N.B. Corporation by 11.3% in the first quarter. Bank of Montreal Can now owns 23,403 shares of the bank’s stock worth $349,000 after buying an additional 2,377 shares during the period. Finally, Capstone Asset Management Co. increased its position in F.N.B. Corporation by 7.0% in the first quarter. Capstone Asset Management Co. now owns 13,999 shares of the bank’s stock worth $208,000 after buying an additional 920 shares during the period. 75.89% of the stock is currently owned by hedge funds and other institutional investors.
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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