Commonwealth Equity Services LLC Sells 29,591 Shares of F.N.B. Co. (NYSE:FNB)

Commonwealth Equity Services LLC cut its position in F.N.B. Co. (NYSE:FNB – Get Rating) by 33.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,034 shares of the bank’s stock after selling 29,591 shares during the quarter. Commonwealth Equity Services LLC’s holdings in F.N.B. were worth $783,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its position in F.N.B. by 22.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,797 shares of the bank’s stock valued at $63,000 after purchasing an additional 883 shares during the last quarter. State of Michigan Retirement System lifted its position in F.N.B. by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 89,351 shares of the bank’s stock valued at $1,166,000 after purchasing an additional 900 shares during the last quarter. Signaturefd LLC raised its position in F.N.B. by 19.0% during the third quarter. Signaturefd LLC now owns 5,813 shares of the bank’s stock valued at $67,000 after purchasing an additional 929 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in F.N.B. by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 192,830 shares of the bank’s stock valued at $2,237,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Credit Suisse AG raised its position in F.N.B. by 0.3% during the third quarter. Credit Suisse AG now owns 320,079 shares of the bank’s stock valued at $3,713,000 after purchasing an additional 1,109 shares in the last quarter. 76.07% of the stock is currently owned by institutional investors.

F.N.B. Stock Performance

Shares of FNB stock opened at $11.25 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. F.N.B. Co. has a fifty-two week low of $10.09 and a fifty-two week high of $14.71. The stock has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $12.80. The company has a market capitalization of $4.06 billion, a P/E ratio of 7.71 and a beta of 1.06.

F.N.B. (NYSE:FNB – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The bank reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $416.10 million for the quarter, compared to analysts’ expectations of $413.52 million. F.N.B. had a net margin of 29.60% and a return on equity of 10.12%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. Analysts expect that F.N.B. Co. will post 1.53 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be given a $0.12 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.48 annualized dividend and a dividend yield of 4.27%. F.N.B.’s dividend payout ratio is 32.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stephens assumed coverage on F.N.B. in a research report on Monday, April 3rd. They set an “overweight” rating and a $15.00 price target on the stock. Raymond James reduced their price target on shares of F.N.B. from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Keefe, Bruyette & Woods reduced their price target on shares of F.N.B. from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Finally, StockNews.com began coverage on shares of F.N.B. in a research report on Thursday, May 18th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

F.N.B. Company Profile

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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.