F.N.B. (NYSE:FNB) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of F.N.B. (NYSE:FNB) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

FNB has been the subject of a number of other research reports. Stephens reissued an equal weight rating and set a $11.47 target price (down previously from $13.50) on shares of F.N.B. in a report on Monday, July 26th. Wells Fargo & Company dropped their price target on F.N.B. from $14.00 to $13.50 and set an overweight rating for the company in a research note on Thursday, October 7th. Finally, Jefferies Financial Group downgraded F.N.B. from a buy rating to a hold rating and dropped their price target for the company from $14.00 to $12.00 in a research note on Monday, July 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $12.99.

FNB opened at $11.74 on Wednesday. F.N.B. has a fifty-two week low of $7.06 and a fifty-two week high of $13.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $3.75 billion, a P/E ratio of 11.08 and a beta of 1.35. The stock has a fifty day moving average of $11.50 and a 200-day moving average of $12.23.

F.N.B. (NYSE:FNB) last posted its earnings results on Sunday, July 18th. The bank reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. F.N.B. had a return on equity of 7.76% and a net margin of 25.73%. The company had revenue of $307.64 million during the quarter, compared to the consensus estimate of $305.00 million. During the same quarter last year, the firm earned $0.26 earnings per share. On average, equities research analysts predict that F.N.B. will post 1.15 earnings per share for the current fiscal year.

In other F.N.B. news, Director William B. Campbell bought 2,827 shares of the stock in a transaction on Friday, July 30th. The stock was purchased at an average price of $11.55 per share, with a total value of $32,651.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its holdings in shares of F.N.B. by 4.1% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 28,892,052 shares of the bank’s stock worth $356,239,000 after purchasing an additional 1,135,440 shares during the last quarter. State Street Corp grew its holdings in shares of F.N.B. by 11.8% during the second quarter. State Street Corp now owns 18,065,497 shares of the bank’s stock worth $222,748,000 after purchasing an additional 1,905,135 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of F.N.B. by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 16,672,521 shares of the bank’s stock worth $205,571,000 after purchasing an additional 159,936 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of F.N.B. by 32.6% during the second quarter. American Century Companies Inc. now owns 6,587,956 shares of the bank’s stock worth $81,229,000 after purchasing an additional 1,619,513 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of F.N.B. by 0.7% during the second quarter. Geode Capital Management LLC now owns 3,862,130 shares of the bank’s stock worth $47,620,000 after purchasing an additional 26,921 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.

About F.N.B.

F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.

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