Cresset Asset Management LLC Trims Holdings in F.N.B. Co. (NYSE:FNB)

Cresset Asset Management LLC cut its stake in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 22.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,307 shares of the bank's stock after selling 35,539 shares during the quarter. Cresset Asset Management LLC's holdings in F.N.B. were worth $1,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors increased its position in F.N.B. by 2.3% during the 4th quarter. World Investment Advisors now owns 29,393 shares of the bank's stock valued at $434,000 after buying an additional 667 shares in the last quarter. Savant Capital LLC increased its position in F.N.B. by 1.4% during the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank's stock valued at $770,000 after buying an additional 708 shares in the last quarter. Forum Financial Management LP increased its position in F.N.B. by 5.9% during the 4th quarter. Forum Financial Management LP now owns 13,258 shares of the bank's stock valued at $196,000 after buying an additional 744 shares in the last quarter. Arizona State Retirement System increased its position in F.N.B. by 0.7% during the 4th quarter. Arizona State Retirement System now owns 104,354 shares of the bank's stock valued at $1,542,000 after buying an additional 765 shares in the last quarter. Finally, United Services Automobile Association increased its position in F.N.B. by 3.7% during the 4th quarter. United Services Automobile Association now owns 24,524 shares of the bank's stock valued at $362,000 after buying an additional 870 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at F.N.B.

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

Analysts Set New Price Targets

A number of research firms have commented on FNB. Keefe, Bruyette & Woods raised F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 target price for the company in a report on Monday, April 21st. DA Davidson reissued a "buy" rating and issued a $19.00 target price on shares of F.N.B. in a report on Thursday, April 17th. Wells Fargo & Company reduced their target price 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. Piper Sandler reduced their target price on F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Finally, Truist Financial began coverage on F.N.B. in a report on Tuesday. They issued a "buy" rating and a $16.50 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, F.N.B. has an average rating of "Moderate Buy" and an average price target of $17.57.

F.N.B. Stock Performance

Shares of FNB stock traded up $0.06 on Wednesday, reaching $14.55. The stock had a trading volume of 2,406,635 shares, compared to its average volume of 2,480,188. The stock has a market cap of $5.24 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 3.60 and a beta of 0.88. F.N.B. Co. has a 1 year low of $10.88 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day simple moving average of $13.10 and a 200 day simple moving average of $14.66.

F.N.B. (NYSE:FNB - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $411.61 million for the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. During the same period in the previous year, the business earned $0.34 earnings per share. Equities research analysts expect that F.N.B. Co. will post 1.45 EPS for the current year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd will be paid a $0.12 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.48 annualized dividend and a yield of 3.30%. 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.