F.N.B. (NYSE:FNB) Shares Up 7.1%

Shares of F.N.B. Corp (NYSE:FNB) shot up 7.1% during trading on Wednesday . The company traded as high as $6.92 and last traded at $7.26, 1,608,864 shares changed hands during mid-day trading. A decline of 57% from the average session volume of 3,770,433 shares. The stock had previously closed at $6.78.

A number of brokerages have recently commented on FNB. Stephens cut their price objective on shares of F.N.B. from $14.50 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Zacks Investment Research raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine raised shares of F.N.B. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $13.80.

The stock’s 50-day moving average price is $9.81 and its 200 day moving average price is $11.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $2.20 billion, a P/E ratio of 6.42, a price-to-earnings-growth ratio of 0.68 and a beta of 1.30.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $300.48 million for the quarter, compared to analyst estimates of $305.55 million. F.N.B. had a net margin of 25.13% and a return on equity of 8.43%. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, analysts forecast that F.N.B. Corp will post 1.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Thursday, March 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend was Wednesday, March 4th. F.N.B.’s dividend payout ratio is presently 40.68%.

In other news, CEO Vincent J. Delie, Jr. bought 10,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $8.72 per share, for a total transaction of $87,200.00. Also, Director James D. Chiafullo bought 15,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average price of $9.92 per share, for a total transaction of $148,800.00. In the last three months, insiders bought 31,500 shares of company stock worth $299,765. 0.59% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in F.N.B. by 56.5% during the third quarter. Tower Research Capital LLC TRC now owns 7,989 shares of the bank’s stock worth $93,000 after buying an additional 2,884 shares during the last quarter. Westhampton Capital LLC acquired a new position in F.N.B. during the fourth quarter worth $132,000. Dynamic Technology Lab Private Ltd acquired a new position in F.N.B. during the fourth quarter worth $158,000. AQR Capital Management LLC acquired a new position in F.N.B. during the fourth quarter worth $175,000. Finally, Stevens Capital Management LP acquired a new position in F.N.B. during the fourth quarter worth $190,000. Institutional investors and hedge funds own 74.24% of the company’s stock.

About F.N.B. (NYSE:FNB)

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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