Mirae Asset Global Investments Co. Ltd. Invests $1.08 Million in F.N.B. Co. (NYSE:FNB)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in F.N.B. Co. (NYSE:FNB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 78,587 shares of the bank’s stock, valued at approximately $1,082,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNB. FMR LLC raised its holdings in shares of F.N.B. by 6.6% during the third quarter. FMR LLC now owns 13,266,361 shares of the bank’s stock valued at $143,144,000 after buying an additional 822,023 shares during the last quarter. American Century Companies Inc. raised its stake in F.N.B. by 5.9% during the 3rd quarter. American Century Companies Inc. now owns 12,474,225 shares of the bank’s stock valued at $134,597,000 after acquiring an additional 694,059 shares in the last quarter. Wellington Management Group LLP boosted its position in F.N.B. by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,449,816 shares of the bank’s stock worth $26,434,000 after acquiring an additional 413,698 shares during the period. Trust Co of the South bought a new position in shares of F.N.B. in the fourth quarter worth $4,720,000. Finally, Comerica Bank increased its holdings in shares of F.N.B. by 110.9% during the third quarter. Comerica Bank now owns 487,449 shares of the bank’s stock valued at $5,260,000 after purchasing an additional 256,355 shares during the period. 79.25% of the stock is owned by institutional investors and hedge funds.

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $13.35 on Tuesday. F.N.B. Co. has a 12 month low of $10.09 and a 12 month high of $14.19. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.80 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 9.07 and a beta of 1.02. The business has a fifty day simple moving average of $13.45 and a 200-day simple moving average of $12.79.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, April 18th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $406.87 million for the quarter, compared to analysts’ expectations of $406.96 million. F.N.B. had a return on equity of 9.51% and a net margin of 19.73%. During the same quarter in the previous year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that F.N.B. Co. will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, March 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 3.60%. F.N.B.’s dividend payout ratio is presently 38.71%.

Insiders Place Their Bets

In related news, Director William B. Campbell purchased 2,500 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $13.41 per share, for a total transaction of $33,525.00. Following the acquisition, the director now directly owns 145,388 shares in the company, valued at approximately $1,949,653.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FNB. Stephens reduced their price objective on shares of F.N.B. from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday. Bank of America started coverage on shares of F.N.B. in a research note on Thursday, January 11th. They set a “buy” rating and a $15.00 price objective on the stock. Wells Fargo & Company upped their target price on F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. StockNews.com cut F.N.B. from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Finally, Raymond James lifted their target price on F.N.B. from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, F.N.B. presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

About F.N.B.

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.