Brandywine Global Investment Management LLC Reduces Holdings in F.N.B. Corporation $FNB

Key Points

• Brandywine Global Investment Management LLC reduced its stake in F.N.B. Corporation by 3.8%, now holding approximately 803,462 shares valued at around $10.8 million.
• F.N.B. Corporation plans to pay a quarterly $0.12 dividend on September 15, 2023, reflecting an annual yield of 3.1%.
• Several analysts have upgraded their target prices for F.N.B., with Wells Fargo increasing its target from $18.00 to $20.00 and maintaining an “overweight” rating.

Brandywine Global Investment Management LLC trimmed its position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,462 shares of the bank's stock after selling 31,322 shares during the period. Brandywine Global Investment Management LLC owned 0.22% of F.N.B. worth $10,807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of F.N.B. by 0.3% in the first quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank's stock worth $531,694,000 after buying an additional 114,672 shares in the last quarter. First Trust Advisors LP raised its stake in 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 purchasing an additional 2,273,736 shares in the last quarter. Northern Trust Corp lifted its position in 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 purchasing an additional 655,383 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of 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 worth $14,992,000 after buying an additional 94,870 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of F.N.B. in the 4th quarter worth $15,801,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

F.N.B. Stock Up 4.3%

F.N.B. stock traded up $0.6850 during mid-day trading on Friday, reaching $16.5250. 5,756,988 shares of the company were exchanged, compared to its average volume of 3,602,842. F.N.B. Corporation has a 12-month low of $10.88 and a 12-month high of $17.70. The business has a fifty day moving average of $15.21 and a 200 day moving average of $14.28. The firm has a market cap of $5.93 billion, a P/E ratio of 12.91, a PEG ratio of 0.91 and a beta of 0.94. 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. (NYSE:FNB - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $438.21 million for the quarter, compared to the consensus estimate of $424.39 million. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.During the same quarter last year, the company earned $0.34 earnings per share. Research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.9%. F.N.B.'s dividend payout ratio is presently 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.