Bank of New York Mellon Corp Has $43.37 Million Position in F.N.B. Corporation (NYSE:FNB)

Bank of New York Mellon Corp reduced its holdings in F.N.B. Corporation (NYSE:FNB - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 0.90% of F.N.B. worth $43,366,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in F.N.B. by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank's stock valued at $582,576,000 after acquiring an additional 305,826 shares during the period. Geode Capital Management LLC increased its position in shares of F.N.B. by 0.4% during 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 during the period. First Trust Advisors LP increased its position 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 purchasing an additional 2,273,736 shares during the period. Norges Bank acquired a new position in shares of F.N.B. during the 4th quarter valued at $50,205,000. Finally, Northern Trust Corp increased its position in shares of F.N.B. by 26.4% during the 4th quarter. Northern Trust Corp now owns 3,133,235 shares of the bank's stock valued at $46,309,000 after purchasing an additional 655,383 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on FNB. Truist Financial boosted their price target on shares of F.N.B. from $16.50 to $17.50 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of F.N.B. from a "sell" rating to a "hold" rating in a research report on Sunday. Keefe, Bruyette & Woods upgraded shares of F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target on the stock in a research report on Monday, April 21st. Finally, DA Davidson restated a "buy" rating and issued a $19.00 target price on shares of F.N.B. in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

F.N.B. Price Performance

Shares of NYSE FNB traded up $0.15 during mid-day trading on Wednesday, reaching $15.51. The company had a trading volume of 2,149,569 shares, compared to its average volume of 2,654,890. The stock has a market cap of $5.58 billion, a PE ratio of 12.30, a P/E/G ratio of 0.95 and a beta of 0.92. The company has a 50-day moving average price of $14.40 and a two-hundred day moving average price of $14.21. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.39. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. The company had revenue of $411.61 million during the quarter, compared to analysts' expectations of $409.52 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, June 2nd. F.N.B.'s dividend payout ratio (DPR) is presently 38.10%.

About F.N.B.

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.