Macquarie Group Ltd. bought a new position in shares of F.N.B. Corp (NYSE:FNB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,954,269 shares of the bank’s stock, valued at approximately $39,646,000. Macquarie Group Ltd. owned about 0.91% of F.N.B. as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of F.N.B. by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,411,593 shares of the bank’s stock worth $18,986,000 after acquiring an additional 37,977 shares in the last quarter. Tradition Capital Management LLC raised its position in shares of F.N.B. by 4.8% in the 2nd quarter. Tradition Capital Management LLC now owns 204,775 shares of the bank’s stock worth $2,748,000 after acquiring an additional 9,320 shares in the last quarter. Prudential Financial Inc. raised its position in shares of F.N.B. by 139.4% in the 1st quarter. Prudential Financial Inc. now owns 490,444 shares of the bank’s stock worth $6,596,000 after acquiring an additional 285,570 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of F.N.B. by 27.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 46,000 shares of the bank’s stock worth $617,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of F.N.B. by 8.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 179,991 shares of the bank’s stock worth $2,415,000 after acquiring an additional 14,174 shares in the last quarter. 80.89% of the stock is owned by institutional investors and hedge funds.
FNB has been the subject of several research analyst reports. Wells Fargo & Co set a $15.00 price objective on F.N.B. and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Boenning Scattergood reissued a “buy” rating on shares of F.N.B. in a research report on Wednesday, July 25th. ValuEngine raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Raymond James lowered F.N.B. from a “strong-buy” rating to an “outperform” rating and set a $19.00 price objective for the company. in a research report on Wednesday, July 25th. Finally, Zacks Investment Research lowered F.N.B. from a “hold” rating to a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.14.
F.N.B. (NYSE:FNB) last issued its earnings results on Tuesday, July 24th. The bank reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $305.86 million. F.N.B. had a return on equity of 7.70% and a net margin of 19.91%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. On average, sell-side analysts forecast that F.N.B. Corp will post 1.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Stockholders of record on Tuesday, September 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.48 annualized dividend and a dividend yield of 3.75%. F.N.B.’s dividend payout ratio is presently 51.61%.
In other news, Director Frank C. Mencini bought 2,000 shares of F.N.B. stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the purchase, the director now directly owns 32,681 shares in the company, valued at approximately $427,140.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through four segments: Community Banking, Wealth Management, Insurance, and Consumer Finance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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