The Manufacturers Life Insurance Company trimmed its position in F.N.B. Corp (NYSE:FNB) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,294,200 shares of the bank’s stock after selling 64,500 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in F.N.B. were worth $34,919,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in F.N.B. by 4.2% during the 4th quarter. BlackRock Inc. now owns 36,804,150 shares of the bank’s stock worth $362,153,000 after acquiring an additional 1,496,332 shares in the last quarter. Vanguard Group Inc raised its stake in F.N.B. by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 29,783,874 shares of the bank’s stock worth $378,851,000 after acquiring an additional 488,170 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in F.N.B. by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,773,329 shares of the bank’s stock worth $124,800,000 after acquiring an additional 2,450,240 shares in the last quarter. Macquarie Group Ltd. raised its stake in F.N.B. by 17.5% during the 4th quarter. Macquarie Group Ltd. now owns 6,167,253 shares of the bank’s stock worth $60,686,000 after acquiring an additional 918,930 shares in the last quarter. Finally, Northern Trust Corp raised its stake in F.N.B. by 2.3% during the 1st quarter. Northern Trust Corp now owns 4,483,689 shares of the bank’s stock worth $47,527,000 after acquiring an additional 99,850 shares in the last quarter. Institutional investors and hedge funds own 76.08% of the company’s stock.
In other F.N.B. news, Director Mary Jo Dively acquired 4,000 shares of the stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $12.36 per share, with a total value of $49,440.00. Following the transaction, the director now owns 21,900 shares of the company’s stock, valued at approximately $270,684. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.
F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. F.N.B. had a net margin of 25.54% and a return on equity of 8.50%. The company had revenue of $296.00 million for the quarter, compared to the consensus estimate of $298.73 million. During the same period last year, the firm posted $0.26 EPS. F.N.B.’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that F.N.B. Corp will post 1.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Friday, May 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.17%. The ex-dividend date is Thursday, May 30th. F.N.B.’s payout ratio is currently 42.48%.
FNB has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of F.N.B. from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, March 26th. Boenning Scattergood reiterated a “buy” rating and set a $13.00 price target on shares of F.N.B. in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $14.75.
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 three segments: Community Banking, Wealth Management, and Insurance. 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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