Shares of F.N.B. Co. (NYSE:FNB – Get Rating) shot up 3.4% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $13.60 and last traded at $13.56. 1,329,856 shares traded hands during trading, a decline of 33% from the average session volume of 1,971,084 shares. The stock had previously closed at $13.11.
The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. F.N.B. had a return on equity of 8.40% and a net margin of 27.57%. The business had revenue of $488.50 million for the quarter, compared to the consensus estimate of $396.26 million. During the same quarter in the prior year, the business posted $0.30 EPS.
F.N.B. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, March 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.54%. F.N.B.’s payout ratio is currently 42.48%.
Analyst Upgrades and Downgrades
Institutional Trading of F.N.B.
Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in F.N.B. by 196.0% during the 3rd quarter. IFP Advisors Inc now owns 2,451 shares of the bank’s stock worth $30,000 after acquiring an additional 1,623 shares during the period. First Command Bank acquired a new stake in shares of F.N.B. in the 2nd quarter valued at approximately $27,000. TCI Wealth Advisors Inc. lifted its holdings in shares of F.N.B. by 72.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,645 shares of the bank’s stock valued at $31,000 after buying an additional 1,114 shares during the period. Old North State Trust LLC acquired a new stake in shares of F.N.B. in the 3rd quarter valued at approximately $39,000. Finally, Bessemer Group Inc. acquired a new stake in shares of F.N.B. in the 3rd quarter valued at approximately $52,000. 76.07% of the stock is owned by institutional investors and hedge funds.
F.N.B. Stock Up 3.5 %
The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $13.25 and a 200 day moving average price of $12.74. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 12.01 and a beta of 1.08.
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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