Analysts Anticipate F.N.B. Co. (NYSE:FNB) Will Post Quarterly Sales of $306.34 Million

Wall Street brokerages expect that F.N.B. Co. (NYSE:FNB) will post $306.34 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for F.N.B.’s earnings. The lowest sales estimate is $302.67 million and the highest is $311.37 million. F.N.B. reported sales of $307.14 million during the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, October 18th.

According to Zacks, analysts expect that F.N.B. will report full year sales of $1.23 billion for the current financial year, with estimates ranging from $1.22 billion to $1.23 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.30 billion, with estimates ranging from $1.28 billion to $1.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover F.N.B..

F.N.B. (NYSE:FNB) last released its earnings results on Sunday, July 18th. The bank reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The firm had revenue of $307.64 million for the quarter, compared to the consensus estimate of $305.00 million. F.N.B. had a return on equity of 7.76% and a net margin of 25.73%. During the same quarter in the previous year, the company posted $0.26 EPS.

FNB has been the topic of several analyst 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 research report on Monday, July 26th. Jefferies Financial Group downgraded F.N.B. from a “buy” rating to a “hold” rating and cut their price objective for the company from $14.00 to $12.00 in a research report on Monday, July 19th. Finally, Zacks Investment Research downgraded F.N.B. from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, F.N.B. presently has a consensus rating of “Buy” and a consensus target price of $12.87.

Shares of NYSE FNB traded up $0.17 during trading hours on Wednesday, hitting $10.85. 2,225,226 shares of the company traded hands, compared to its average volume of 2,236,480. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 10.24 and a beta of 1.35. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $11.41 and its 200 day moving average price is $12.36. F.N.B. has a 12 month low of $6.37 and a 12 month high of $13.82.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Friday, September 3rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, September 2nd. F.N.B.’s dividend payout ratio is 50.00%.

In other news, Director William B. Campbell bought 2,827 shares of the stock in a transaction on Friday, July 30th. The stock was acquired at an average cost of $11.55 per share, for a total transaction of $32,651.85. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of FNB. South Dakota Investment Council lifted its stake in shares of F.N.B. by 0.3% during the 1st quarter. South Dakota Investment Council now owns 247,793 shares of the bank’s stock worth $3,147,000 after purchasing an additional 781 shares during the last quarter. Marcum Wealth LLC lifted its stake in shares of F.N.B. by 2.4% during the 1st quarter. Marcum Wealth LLC now owns 36,952 shares of the bank’s stock worth $469,000 after purchasing an additional 864 shares during the last quarter. Corient Capital Partners LLC lifted its stake in shares of F.N.B. by 6.8% during the 2nd quarter. Corient Capital Partners LLC now owns 14,485 shares of the bank’s stock worth $179,000 after purchasing an additional 919 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of F.N.B. by 8.7% during the 1st quarter. Neuberger Berman Group LLC now owns 12,075 shares of the bank’s stock worth $140,000 after purchasing an additional 966 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of F.N.B. by 1.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 62,531 shares of the bank’s stock worth $771,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

F.N.B. Company Profile

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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Earnings History and Estimates for F.N.B. (NYSE:FNB)

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