Berkshire Asset Management LLC PA Makes New Investment in F.N.B. Corporation $FNB

Key Points

• Berkshire Asset Management LLC has invested approximately $273,000 in F.N.B. Corporation by purchasing 19,756 shares during the first quarter.
• F.N.B. Corporation reported earnings of $0.36 per share for the last quarter, surpassing analyst expectations of $0.33, along with revenue of $438.21 million.
• The company declared a quarterly dividend of $0.12 per share, providing a 3.0% dividend yield, with the next payment scheduled for September 15th.

Berkshire Asset Management LLC PA acquired a new stake in shares of F.N.B. Corporation (NYSE:FNB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,756 shares of the bank's stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FNB. Vanguard Group Inc. boosted its stake in F.N.B. by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank's stock valued at $531,694,000 after purchasing an additional 114,672 shares during the last quarter. First Trust Advisors LP boosted its position in shares of F.N.B. by 76.8% during the fourth 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. Northern Trust Corp boosted its position in shares of F.N.B. by 26.4% during the fourth quarter. Northern Trust Corp now owns 3,133,235 shares of the bank's stock valued at $46,309,000 after buying an additional 655,383 shares during the last quarter. Wellington Management Group LLP grew its holdings in F.N.B. by 10.0% during the first quarter. Wellington Management Group LLP now owns 1,169,933 shares of the bank's stock worth $15,736,000 after buying an additional 106,571 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in F.N.B. by 9.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,114,640 shares of the bank's stock valued at $14,992,000 after buying an additional 94,870 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on FNB. Truist Financial lifted their price objective on shares of F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on shares of F.N.B. from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $18.50 price objective (up from $16.50) on shares of F.N.B. in a research report on Monday, July 21st. DA Davidson lifted their target price on shares of F.N.B. from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.64.

F.N.B. Stock Performance

NYSE FNB traded up $0.6610 on Friday, hitting $16.5010. 15,604,309 shares of the stock traded hands, compared to its average volume of 7,191,251. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.94 and a beta of 0.94. The business's fifty day moving average is $15.27 and its two-hundred day moving average is $14.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 0.93. F.N.B. Corporation has a 12 month low of $10.88 and a 12 month high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.The firm had revenue of $438.21 million for the quarter, compared to analysts' expectations of $424.39 million. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, equities analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 annualized dividend and a yield of 2.9%. F.N.B.'s dividend payout ratio (DPR) is 37.50%.

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.