F.N.B. (FNB) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of F.N.B. (NYSE:FNB) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “FNB Corporation is a diversified financial services company serving banking, trust, consumer finance and insurance customers through community banking affiliates and other subsidiaries with offices in Florida, Pennsylvania, Ohio and Tennessee. “

Several other brokerages also recently commented on FNB. ValuEngine downgraded F.N.B. from a hold rating to a sell rating in a research note on Tuesday, September 18th. Wells Fargo & Co set a $15.00 target price on F.N.B. and gave the stock a buy rating in a research note on Tuesday, October 2nd. Finally, TheStreet downgraded F.N.B. from a b- rating to a c+ rating in a research note on Friday, December 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. F.N.B. presently has a consensus rating of Hold and a consensus price target of $16.20.



Shares of FNB stock traded up $0.18 on Tuesday, hitting $10.84. 2,733,210 shares of the stock were exchanged, compared to its average volume of 3,075,075. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.98 and a beta of 1.12. F.N.B. has a one year low of $9.35 and a one year high of $14.91.

F.N.B. (NYSE:FNB) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.29 EPS for the quarter, topping 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 business had revenue of $309.60 million during the quarter, compared to the consensus estimate of $313.18 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that F.N.B. will post 1.11 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, December 15th. Shareholders of record on Monday, December 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.48 annualized dividend and a yield of 4.43%. F.N.B.’s dividend payout ratio is currently 51.61%.

In other F.N.B. news, Chairman Vincent J. Delie, Jr. purchased 6,500 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average price of $11.21 per share, for a total transaction of $72,865.00. Following the transaction, the chairman now owns 262,829 shares in the company, valued at approximately $2,946,313.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Barry C. Robinson purchased 2,500 shares of the company’s 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 $28,025.00. Following the transaction, the insider now owns 36,552 shares in the company, valued at approximately $409,747.92. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 22,500 shares of company stock valued at $257,895. 0.63% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of FNB. Fuller & Thaler Asset Management Inc. bought a new stake in shares of F.N.B. during the 3rd quarter valued at about $64,451,000. Macquarie Group Ltd. bought a new stake in shares of F.N.B. during the 2nd quarter valued at about $39,646,000. Bank of America Corp DE boosted its position in shares of F.N.B. by 112.2% during the 2nd quarter. Bank of America Corp DE now owns 4,502,217 shares of the bank’s stock valued at $60,419,000 after acquiring an additional 2,380,341 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of 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 valued at $84,203,000 after acquiring an additional 1,962,895 shares during the last quarter. Finally, FMR LLC boosted its position in shares of F.N.B. by 7.2% during the 2nd quarter. FMR LLC now owns 16,787,190 shares of the bank’s stock valued at $225,284,000 after acquiring an additional 1,125,120 shares during the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

F.N.B. Company Profile

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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