Principal Financial Group Inc. raised its position in shares of F.N.B. Corporation (NYSE:FNB) by 55.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,303,858 shares of the bank’s stock after buying an additional 466,503 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of F.N.B. Corporation worth $19,389,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of FNB. Tyers Asset Management LLC raised its stake in 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 in the last quarter. Elkfork Partners LLC raised its stake in 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 in the last quarter. Israel Discount Bank of New York GFN purchased a new stake in F.N.B. Corporation during the fourth quarter worth approximately $153,000. GW&K Investment Management LLC purchased a new stake in F.N.B. Corporation during the first quarter worth approximately $158,000. Finally, Raymond James Trust N.A. raised its stake 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 in the last quarter. 74.71% of the stock is owned by institutional investors.
Shares of F.N.B. Corporation (FNB) traded down 1.535% on Tuesday, hitting $13.795. The company’s stock had a trading volume of 536,687 shares. The stock’s 50-day moving average price is $13.99 and its 200-day moving average price is $14.95. F.N.B. Corporation has a 52 week low of $11.69 and a 52 week high of $16.43. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 18.846 and a beta of 0.95.
F.N.B. Corporation (NYSE:FNB) last released its earnings results on Tuesday, April 25th. The bank reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. The firm had revenue of $227.90 million during the quarter, compared to the consensus estimate of $231.73 million. F.N.B. Corporation had a return on equity of 7.21% and a net margin of 18.06%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. Equities analysts expect that F.N.B. Corporation will post $0.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.43%. F.N.B. Corporation’s payout ratio is 64.00%.
A number of analysts have commented on FNB shares. Zacks Investment Research lowered shares of F.N.B. Corporation from a “hold” rating to a “sell” rating in a research note on Friday, March 24th. DA Davidson initiated coverage on shares of F.N.B. Corporation in a research report on Monday, March 6th. They issued a “buy” rating and a $19.00 price target for the company. FBR & Co reissued a “buy” rating and issued a $19.00 price target on shares of F.N.B. Corporation in a research report on Wednesday, April 26th. Keefe, Bruyette & Woods set a $16.00 price target on shares of F.N.B. Corporation and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Finally, J P Morgan Chase & Co upgraded F.N.B. Corporation from a “neutral” rating to an “overweight” rating and set a $17.50 price objective on the stock in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.94.
In other news, insider Gary L. Guerrieri sold 19,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $14.17, for a total transaction of $269,230.00. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at approximately $789,368.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.21% of the company’s stock.
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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