Louisiana State Employees Retirement System Has $1.19 Million Position in F.N.B. Corporation (FNB)

Louisiana State Employees Retirement System boosted its stake in F.N.B. Corporation (NYSE:FNB) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,300 shares of the bank’s stock after buying an additional 3,400 shares during the period. Louisiana State Employees Retirement System’s holdings in F.N.B. Corporation were worth $1,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FNB. Tyers Asset Management LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Tyers Asset Management LLC now owns 6,768 shares of the bank’s stock valued at $101,000 after buying an additional 352 shares in the last quarter. Israel Discount Bank of New York bought a new stake in shares of F.N.B. Corporation during the first quarter valued at about $120,000. Elkfork Partners LLC increased its stake in shares of F.N.B. Corporation by 5.5% in the first quarter. Elkfork Partners LLC now owns 9,306 shares of the bank’s stock valued at $138,000 after buying an additional 484 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of F.N.B. Corporation during the first quarter valued at about $158,000. Finally, Raymond James Trust N.A. increased its stake in shares of F.N.B. Corporation by 0.6% in the first quarter. Raymond James Trust N.A. now owns 10,678 shares of the bank’s stock valued at $159,000 after buying an additional 60 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of F.N.B. Corporation (NYSE:FNB) traded up 0.31% during mid-day trading on Friday, hitting $12.78. The stock had a trading volume of 2,295,624 shares. The stock has a market cap of $4.11 billion, a P/E ratio of 16.45 and a beta of 0.94. F.N.B. Corporation has a 52 week low of $11.86 and a 52 week high of $16.43. The stock has a 50-day moving average price of $13.71 and a 200 day moving average price of $14.35.

F.N.B. Corporation (NYSE:FNB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. F.N.B. Corporation had a net margin of 19.43% and a return on equity of 6.97%. The company had revenue of $284.50 million for the quarter, compared to the consensus estimate of $294.39 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that F.N.B. Corporation will post $0.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 3.76%. F.N.B. Corporation’s payout ratio is 61.54%.

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Several analysts recently issued reports on the company. Jefferies Group LLC set a $18.00 price target on F.N.B. Corporation and gave the company a “buy” rating in a report on Saturday, May 6th. BidaskClub upgraded F.N.B. Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. ValuEngine downgraded F.N.B. Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded F.N.B. Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, FIG Partners upgraded F.N.B. Corporation from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.75.

In related news, Director Frank C. Mencini acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $13.57 per share, for a total transaction of $33,925.00. Following the acquisition, the director now owns 19,977 shares in the company, valued at approximately $271,087.89. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary L. Guerrieri sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $13.19, for a total transaction of $92,330.00. Following the transaction, the insider now owns 38,407 shares in the company, valued at approximately $506,588.33. The disclosure for this sale can be found here. Insiders own 1.21% of the company’s stock.

F.N.B. Corporation Company Profile

F.N.B. Corporation is a financial holding company. The Company operates through four segments: Community Banking, Wealth Management, Insurance and Consumer Finance. Its Community Banking segment consists of First National Bank of Pennsylvania (FNBPA), which offers services, including commercial and individual demand, savings and time deposit accounts and commercial, mortgage and individual installment loans.