Bastion Asset Management Inc. Makes New Investment in F.N.B. Co. (NYSE:FNB)

Bastion Asset Management Inc. bought a new position in F.N.B. Co. (NYSE:FNB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 283,638 shares of the bank's stock, valued at approximately $4,360,000. F.N.B. accounts for 2.9% of Bastion Asset Management Inc.'s holdings, making the stock its 9th largest holding. Bastion Asset Management Inc. owned approximately 0.08% of F.N.B. as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of F.N.B. by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank's stock worth $582,576,000 after acquiring an additional 305,826 shares during the last quarter. PL Capital Advisors LLC purchased a new stake in F.N.B. during the 4th quarter worth approximately $308,616,000. Geode Capital Management LLC raised its position in shares of F.N.B. by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 5,961,104 shares of the bank's stock valued at $88,133,000 after purchasing an additional 21,325 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of F.N.B. by 76.8% during the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock valued at $77,349,000 after buying an additional 2,273,736 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank's stock worth $69,879,000 after buying an additional 127,516 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company's stock.

Insiders Place Their Bets

In related news, Director David L. Motley sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares of the company's stock, valued at $1,013,485.44. This represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FNB shares. DA Davidson reaffirmed a "buy" rating and issued a $19.00 price target on shares of F.N.B. in a report on Thursday, April 17th. Piper Sandler reduced their price target on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on F.N.B. from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods raised F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 target price on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.75.

F.N.B. Stock Performance

Shares of NYSE:FNB traded up $0.34 during trading on Thursday, hitting $13.84. 1,602,777 shares of the company traded hands, compared to its average volume of 2,456,676. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The business's fifty day moving average is $13.10 and its 200-day moving average is $14.67. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.60 and a beta of 0.88. F.N.B. Co. has a one year low of $10.88 and a one year high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. The firm had revenue of $411.61 million for the quarter, compared to analyst estimates of $409.52 million. During the same period last year, the company earned $0.34 earnings per share. As a group, equities analysts predict that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 2nd. F.N.B.'s payout ratio is 38.10%.

F.N.B. Profile

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.