Ceredex Value Advisors LLC Sells 71,550 Shares of F.N.B. Corporation $FNB

Key Points

• Ceredex Value Advisors LLC has reduced its stake in F.N.B. Corporation by 7.4%, selling 71,550 shares and now owning a total of 900,324 shares valued at approximately $12.1 million.
• F.N.B. reported a Q2 EPS of $0.36, exceeding analysts' expectations, with revenues reaching $438.21 million, indicating a strong performance compared to the previous year's earnings.
• The company announced a quarterly dividend of $0.12, with a dividend yield of 2.9%, to be paid out on September 15th for shareholders on record as of September 2nd.

Ceredex Value Advisors LLC lessened its stake in F.N.B. Corporation (NYSE:FNB - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 900,324 shares of the bank's stock after selling 71,550 shares during the period. Ceredex Value Advisors LLC owned 0.25% of F.N.B. worth $12,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. bought a new stake in shares of F.N.B. in the 1st quarter valued at about $28,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in F.N.B. during the first quarter valued at approximately $34,000. Parallel Advisors LLC lifted its position in F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock valued at $42,000 after acquiring an additional 995 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in F.N.B. in the first quarter valued at approximately $42,000. Finally, AlphaQuest LLC grew its holdings in F.N.B. by 82.2% in the first quarter. AlphaQuest LLC now owns 3,295 shares of the bank's stock worth $44,000 after purchasing an additional 1,487 shares during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Stock Up 0.6%

Shares of FNB stock opened at $16.55 on Wednesday. F.N.B. Corporation has a fifty-two week low of $10.88 and a fifty-two week high of $17.70. The firm has a market capitalization of $5.94 billion, a PE ratio of 12.93, a P/E/G ratio of 0.94 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. The stock's 50-day simple moving average is $15.38 and its 200-day simple moving average is $14.29.

F.N.B. (NYSE:FNB - Get Free Report) last released its earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $438.21 million during 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 in the previous year, the company posted $0.34 earnings per share. Equities analysts expect that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. F.N.B.'s dividend payout ratio is presently 37.50%.

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.