Because most of the outstanding stock in this Company is now institutionally owned. Remember the October 2011 $310 million capital raise? The Company took the ownership of the Company from individuals and gave it institutional investors. Consider that the stock has gone from trading at $16 per share shortly after the capital raise down to $7.20 per share today (17 months). Add the fact that the Company has not had a single profitable quarter in MANY years (after looking a their Call Report just filed, March 31, 2013 will continue that trend). Why are you really surprised? People who value their money have moved on. All you have left here are the pumpers.
This bank is in recovery mode. Why would you expect favorable numbers from a bank that purchased two small banks that was close to failure? Now is the time to buy a small position in FNB. As you see earnings improve increase your position.
You recommend a small position? What makes you an "expert" (obviously you have no clue) on this Company? You cannot even get your facts straight about what this company has purchased. If you are going to attempt to pump this stock at least make an attempt to look credible? You, like ll of the ther pumpers before you, have failed in that area!!!!!!!!!
This bank has been losing money and share value since 2008. People have been burned by the stock price, not to mention its reverse stock split a few years back. However, the last quarter of 2012 was its first profitable quarter since 2008, and the first quarter of 2013 has been VERY profitable. Right now, I calc a fair price of $26/share, so I am suprised nobody is buying. Banks is a hot sector right now as well. I anticipate this bank is going to have an outstanding 2013. Just have to wait and see what happens to the share price.