Advisors Asset Management Inc. lifted its stake in F.N.B. Corp (NYSE:FNB) by 166.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,828 shares of the bank’s stock after purchasing an additional 9,895 shares during the period. Advisors Asset Management Inc.’s holdings in F.N.B. were worth $212,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Nomura Holdings Inc. increased its position in F.N.B. by 238.8% during the 2nd quarter. Nomura Holdings Inc. now owns 38,540 shares of the bank’s stock worth $517,000 after purchasing an additional 27,166 shares during the period. Glenmede Trust Co. NA increased its position in F.N.B. by 45.5% during the 2nd quarter. Glenmede Trust Co. NA now owns 6,274,483 shares of the bank’s stock worth $84,203,000 after purchasing an additional 1,962,895 shares during the period. Qube Research & Technologies Ltd acquired a new position in F.N.B. during the 2nd quarter worth approximately $124,000. Waddell & Reed Financial Inc. acquired a new position in F.N.B. during the 2nd quarter worth approximately $415,000. Finally, Macquarie Group Ltd. acquired a new stake in shares of F.N.B. in the 2nd quarter worth approximately $39,646,000. Hedge funds and other institutional investors own 79.89% of the company’s stock.
A number of equities research analysts recently weighed in on the company. ValuEngine upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, Wells Fargo & Co set a $15.00 price target on F.N.B. and gave the company a “buy” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. F.N.B. presently has an average rating of “Hold” and a consensus price target of $16.33.
F.N.B. (NYSE:FNB) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. F.N.B. had a return on equity of 8.03% and a net margin of 20.94%. The company had revenue of $309.60 million during the quarter, compared to the consensus estimate of $313.18 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that F.N.B. Corp will post 1.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 30th. This represents a $0.48 annualized dividend and a dividend yield of 3.95%. F.N.B.’s payout ratio is 51.61%.
In related news, Chairman Vincent J. Delie, Jr. purchased 6,500 shares of F.N.B. stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $11.21 per share, with a total value of $72,865.00. Following the completion of the transaction, the chairman now owns 262,829 shares of the company’s stock, valued at approximately $2,946,313.09. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vincent J. Calabrese bought 5,000 shares of the business’s stock in a transaction on Friday, October 26th. The stock was acquired at an average cost of $11.21 per share, for a total transaction of $56,050.00. Following the acquisition, the chief financial officer now directly owns 115,974 shares of the company’s stock, valued at $1,300,068.54. The disclosure for this purchase can be found here. Insiders have bought 22,500 shares of company stock worth $257,895 in the last ninety days. Corporate insiders own 0.63% of the company’s stock.
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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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