Ethic Inc. Sells 17,118 Shares of F.N.B. Corporation $FNB

Key Points

• Ethic Inc. reduced its stake in F.N.B. Corporation by 25.4%, owning 50,231 shares worth $674,000 after selling 17,118 shares in the first quarter.
• F.N.B. Corporation reported $0.36 earnings per share (EPS) for the last quarter, exceeding analysts' estimates of $0.33 and showcasing significant returns with a net margin of 17.88%.
• A quarterly dividend of $0.12 per share has been declared, yielding 3.0%The ex-dividend date is set for September 2nd.

Ethic Inc. decreased its holdings in F.N.B. Corporation (NYSE:FNB - Free Report) by 25.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,231 shares of the bank's stock after selling 17,118 shares during the period. Ethic Inc.'s holdings in F.N.B. were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FNB. Vanguard Group Inc. raised its stake in shares of F.N.B. by 0.3% during the first 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 period. Northern Trust Corp raised its stake 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 purchasing an additional 655,383 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in shares of F.N.B. by 9.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,114,640 shares of the bank's stock valued at $14,992,000 after purchasing an additional 94,870 shares during the period. Wellington Management Group LLP raised its stake in shares of F.N.B. by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 1,063,362 shares of the bank's stock valued at $15,716,000 after purchasing an additional 18,547 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of F.N.B. by 12.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 990,569 shares of the bank's stock valued at $14,641,000 after purchasing an additional 107,564 shares during the period. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Stock Performance

Shares of FNB traded up $0.11 during midday trading on Tuesday, hitting $16.55. 9,019,729 shares of the stock traded hands, compared to its average volume of 7,528,375. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. The firm has a market capitalization of $5.94 billion, a PE ratio of 12.93, a price-to-earnings-growth 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 business's 50 day moving average price is $15.38 and its two-hundred day moving average price is $14.29.

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. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. The business had revenue of $438.21 million for the quarter, compared to analysts' expectations of $424.39 million. During the same period in the previous year, the business earned $0.34 earnings per share. Equities research analysts predict that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.12 dividend. 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 (DPR) is currently 37.50%.

Analysts Set New Price Targets

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