Cetera Investment Advisers Boosts Stock Holdings in F.N.B. Corporation (NYSE:FNB)

Key Points

• Cetera Investment Advisers increased its stake in F.N.B. Corporation by 55.7% during the 1st quarter, now holding approximately $2.58 million worth of shares.
• F.N.B. Corporation's stock has received several positive revisions from analysts, including a price target increase by Wells Fargo from $18.00 to $20.00, reflecting a consensus rating of "Moderate Buy."
• F.N.B. announced a quarterly dividend of $0.12 to be paid on September 15th, representing an annualized dividend yield of 3.2%.

Cetera Investment Advisers boosted its holdings in F.N.B. Corporation (NYSE:FNB - Free Report) by 55.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,530 shares of the bank's stock after acquiring an additional 68,548 shares during the period. Cetera Investment Advisers owned about 0.05% of F.N.B. worth $2,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its position in F.N.B. by 19.5% in the first quarter. OneDigital Investment Advisors LLC now owns 18,938 shares of the bank's stock worth $255,000 after buying an additional 3,086 shares during the last quarter. Teacher Retirement System of Texas increased its stake in F.N.B. by 4.8% during the first quarter. Teacher Retirement System of Texas now owns 88,338 shares of the bank's stock valued at $1,188,000 after acquiring an additional 4,078 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of F.N.B. by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,438 shares of the bank's stock worth $571,000 after purchasing an additional 2,983 shares in the last quarter. AA Financial Advisors LLC acquired a new position in F.N.B. in the first quarter valued at about $269,000. Finally, First Citizens Bank & Trust Co. raised its holdings in F.N.B. by 110.7% during the 1st quarter. First Citizens Bank & Trust Co. now owns 51,437 shares of the bank's stock worth $692,000 after purchasing an additional 27,030 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

F.N.B. Stock Performance

Shares of NYSE FNB traded up $0.18 during midday trading on Friday, hitting $14.93. 2,201,476 shares of the company's stock traded hands, compared to its average volume of 3,333,144. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70. 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 has a market capitalization of $5.37 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94. The firm has a fifty day moving average of $14.87 and a 200 day moving average of $14.28.

F.N.B. (NYSE:FNB - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm 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 period in the prior year, the company earned $0.34 EPS. On average, analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s dividend payout ratio (DPR) is 37.50%.

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.