Prudential Financial Inc. Sells 206,690 Shares of F.N.B. Corporation (FNB)
Prudential Financial Inc. trimmed its holdings in F.N.B. Corporation (NYSE:FNB) by 44.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,644 shares of the bank’s stock after selling 206,690 shares during the period. Prudential Financial Inc. owned 0.08% of F.N.B. worth $3,685,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. ING Groep NV purchased a new stake in shares of F.N.B. in the second quarter valued at about $557,000. Public Employees Retirement Association of Colorado grew its holdings in shares of F.N.B. by 24.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 51,947 shares of the bank’s stock valued at $736,000 after purchasing an additional 10,102 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of F.N.B. by 2.5% in the second quarter. Great West Life Assurance Co. Can now owns 195,540 shares of the bank’s stock valued at $2,766,000 after purchasing an additional 4,725 shares during the period. Rothschild Asset Management Inc. purchased a new stake in shares of F.N.B. in the second quarter valued at about $19,151,000. Finally, Hamlin Capital Management LLC grew its holdings in shares of F.N.B. by 32.5% in the second quarter. Hamlin Capital Management LLC now owns 4,619,940 shares of the bank’s stock valued at $65,418,000 after purchasing an additional 1,132,242 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.
Shares of F.N.B. Corporation (NYSE FNB) traded down $0.02 during mid-day trading on Friday, reaching $14.17. 3,197,480 shares of the company’s stock traded hands, compared to its average volume of 2,815,846. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4,590.00, a price-to-earnings ratio of 14.74, a PEG ratio of 1.58 and a beta of 0.94. F.N.B. Corporation has a one year low of $12.02 and a one year high of $16.43.
F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 19th. The bank reported $0.24 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $291.38 million during the quarter, compared to analyst estimates of $299.47 million. F.N.B. had a net margin of 19.95% and a return on equity of 6.81%. During the same quarter last year, the firm posted $0.24 earnings per share. sell-side analysts anticipate that F.N.B. Corporation will post 0.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, November 30th. F.N.B.’s payout ratio is 61.54%.
In other F.N.B. news, insider Robert M. Moorehead acquired 5,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $13.46 per share, with a total value of $67,300.00. Following the completion of the purchase, the insider now owns 25,312 shares in the company, valued at approximately $340,699.52. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank C. Mencini acquired 2,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average cost of $12.93 per share, with a total value of $25,860.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 8,500 shares of company stock valued at $113,350. Insiders own 1.21% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. BidaskClub lowered shares of F.N.B. from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Jefferies Group reissued a “buy” rating and issued a $18.00 price objective on shares of F.N.B. in a report on Friday, August 11th. Zacks Investment Research lowered shares of F.N.B. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 target price on shares of F.N.B. in a research note on Friday, September 8th. Finally, ValuEngine raised shares of F.N.B. from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. F.N.B. has a consensus rating of “Buy” and an average price target of $17.39.
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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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