Amundi Acquires 346,824 Shares of F.N.B. Corporation $FNB

Key Points

• Amundi significantly increased its F.N.B. stake by purchasing 346,824 additional shares, lifting its holdings 980.6% to 382,193 shares valued at approximately $7.3 million. Institutional investors collectively own 79.25% of the company.
• Analysts maintain a generally positive outlook, with F.N.B. carrying a consensus “Buy” rating and an average price target of $20.90, compared with a recent share price of $18.30.
• F.N.B. reported quarterly EPS of $0.42, matching expectations, and declared a quarterly dividend of $0.13 per share, equivalent to an annualized yield of approximately 2.8%.

Amundi boosted its holdings in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 980.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 382,193 shares of the bank's stock after purchasing an additional 346,824 shares during the period. Amundi owned about 0.11% of F.N.B. worth $7,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC increased its stake in shares of F.N.B. by 66.8% during the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank's stock valued at $34,000 after buying an additional 820 shares during the period. EverSource Wealth Advisors LLC lifted its stake in F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank's stock worth $36,000 after acquiring an additional 2,420 shares during the period. Triumph Capital Management bought a new stake in F.N.B. in the third quarter valued at $55,000. Parallel Advisors LLC boosted its holdings in F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank's stock valued at $73,000 after acquiring an additional 720 shares in the last quarter. Finally, Danske Bank A S purchased a new position in F.N.B. during the 3rd quarter valued at $85,000. Institutional investors own 79.25% of the company's stock.

Insiders Place Their Bets

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of F.N.B. stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $19.25, for a total transaction of $78,058.75. Following the completion of the transaction, the insider owned 144,283 shares in the company, valued at approximately $2,777,447.75. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on FNB shares. Piper Sandler restated an "overweight" rating on shares of F.N.B. in a report on Monday, July 20th. Bank of America reiterated a "neutral" rating and set a $19.00 price target (down from $20.00) on shares of F.N.B. in a research report on Monday, July 20th. Wall Street Zen raised shares of F.N.B. from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "buy (b)" rating on shares of F.N.B. in a report on Friday, September 4th. Finally, Truist Financial cut their price objective on F.N.B. from $21.00 to $20.50 and set a "buy" rating on the stock in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, F.N.B. currently has a consensus rating of "Buy" and a consensus price target of $20.90.

F.N.B. Trading Up 0.2%

Shares of NYSE FNB opened at $18.30 on Friday. F.N.B. Corporation has a 1 year low of $14.45 and a 1 year high of $19.59. The stock has a market cap of $6.46 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The firm has a 50-day moving average of $18.82 and a 200 day moving average of $17.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The business had revenue of $463.00 million for the quarter, compared to analysts' expectations of $467.13 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, sell-side analysts expect that F.N.B. Corporation will post 1.69 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 1st. F.N.B.'s dividend payout ratio (DPR) is 30.95%.

F.N.B. Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It operates primarily through its banking subsidiary, First National Bank of Pennsylvania, which provides services to consumers, businesses, and institutional clients.

The company offers a broad range of banking products and services, including checking and savings accounts, consumer lending, residential and commercial real estate financing, business loans, treasury management, and wealth management.

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