Bank of New York Mellon Corp lowered its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,224,239 shares of the bank's stock after selling 97,736 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of F.N.B. worth $43,366,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNB. AlphaQuest LLC lifted its stake in F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank's stock valued at $27,000 after buying an additional 1,759 shares during the last quarter. Headlands Technologies LLC purchased a new stake in F.N.B. in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC raised its stake in shares of F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock worth $42,000 after purchasing an additional 995 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of F.N.B. during the first quarter worth approximately $42,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of F.N.B. during the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 79.25% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on FNB. Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target for the company in a research note on Monday, April 21st. Wells Fargo & Company upped their price target on F.N.B. from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. DA Davidson restated a "buy" rating and set a $19.00 price target on shares of F.N.B. in a research note on Thursday, April 17th. Truist Financial upped their price target on F.N.B. from $16.50 to $17.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.
Get Our Latest Analysis on F.N.B.
F.N.B. Price Performance
NYSE:FNB traded up $0.40 during trading hours on Thursday, hitting $15.91. The company's stock had a trading volume of 6,479,093 shares, compared to its average volume of 2,662,994. The business's 50-day moving average is $14.48 and its two-hundred day moving average is $14.23. The company has a market capitalization of $5.72 billion, a PE ratio of 12.62, a PEG ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70.
F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, research analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.
F.N.B. Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, June 2nd. F.N.B.'s dividend payout ratio is presently 38.10%.
F.N.B. Company Profile
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Free Report)
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.
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