Caxton Associates LLP Purchases New Position in F.N.B. Corporation $FNB

Key Points

• Caxton Associates LLP acquired 49,959 shares of F.N.B. Corporation valued at approximately $672,000, highlighting increasing institutional interest in the bank.
• Recent analysts' reports have set a consensus target price of $18.64 for F.N.B., with an overall consensus rating of "Buy".
• F.N.B. announced a quarterly dividend of $0.12 per share, resulting in an annualized yield of 2.9% for its shareholders.

Caxton Associates LLP acquired a new position in F.N.B. Corporation (NYSE:FNB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 49,959 shares of the bank's stock, valued at approximately $672,000.

Several other hedge funds and other institutional investors have also modified their holdings of FNB. Rhino Investment Partners Inc bought a new stake in F.N.B. in the 1st quarter valued at about $19,990,000. Goldman Sachs Group Inc. boosted its position in shares of F.N.B. by 77.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank's stock worth $20,353,000 after buying an additional 660,387 shares during the period. Victory Capital Management Inc. grew its holdings in F.N.B. by 485.4% in the 1st quarter. Victory Capital Management Inc. now owns 748,816 shares of the bank's stock worth $10,072,000 after buying an additional 620,891 shares in the last quarter. AQR Capital Management LLC increased its position in F.N.B. by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank's stock valued at $25,204,000 after acquiring an additional 505,780 shares during the period. Finally, Hsbc Holdings PLC raised its stake in F.N.B. by 175.9% during the 1st quarter. Hsbc Holdings PLC now owns 740,798 shares of the bank's stock valued at $9,935,000 after acquiring an additional 472,300 shares in the last quarter. 79.25% of the stock is owned by institutional investors and hedge funds.

F.N.B. Stock Performance

Shares of F.N.B. stock traded down $0.02 during midday trading on Friday, hitting $16.43. The company had a trading volume of 7,151,215 shares, compared to its average volume of 8,426,714. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50 day simple moving average is $15.89 and its two-hundred day simple moving average is $14.41. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. The stock has a market cap of $5.90 billion, a PE ratio of 12.83, a P/E/G ratio of 0.93 and a beta of 0.98.

F.N.B. (NYSE:FNB - Get Free Report) last posted its 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. The business had revenue of $438.21 million for the quarter, compared to analysts' expectations of $424.39 million. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, equities analysts predict that F.N.B. Corporation will post 1.45 EPS 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. Stockholders of record on Tuesday, September 2nd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s dividend payout ratio (DPR) is 37.50%.

Analyst Upgrades and Downgrades

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

F.N.B. Company 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.