Congress Asset Management Co. Purchases 311,416 Shares of F.N.B. Co. (NYSE:FNB)

Congress Asset Management Co. grew its stake in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 185.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 479,760 shares of the bank's stock after buying an additional 311,416 shares during the period. Congress Asset Management Co. owned 0.13% of F.N.B. worth $6,453,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FNB. Harbor Investment Advisory LLC purchased a new position in shares of F.N.B. during the 1st quarter valued at $47,000. Fifth Third Wealth Advisors LLC lifted its position in shares of F.N.B. by 10.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 12,085 shares of the bank's stock valued at $163,000 after acquiring an additional 1,122 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of F.N.B. by 47.4% in the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock worth $42,000 after acquiring an additional 995 shares during the period. GAMMA Investing LLC boosted its stake in shares of F.N.B. by 1,442.9% in the first quarter. GAMMA Investing LLC now owns 81,588 shares of the bank's stock worth $1,097,000 after acquiring an additional 76,300 shares during the period. Finally, Wellington Management Group LLP grew its position 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 worth $15,716,000 after purchasing an additional 18,547 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

Wall Street Analyst Weigh In

FNB has been the topic of a number of research analyst reports. DA Davidson reissued a "buy" rating and issued a $19.00 price target on shares of F.N.B. in a report on Thursday, April 17th. Keefe, Bruyette & Woods upgraded shares of F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price objective on the stock in a research report on Monday, April 21st. Truist Financial started coverage on shares of F.N.B. in a report on Tuesday, May 13th. They issued a "buy" rating and a $16.50 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, F.N.B. has an average rating of "Buy" and an average price target of $17.57.

F.N.B. Price Performance

Shares of FNB stock traded down $0.18 on Wednesday, reaching $14.07. The company's stock had a trading volume of 1,739,309 shares, compared to its average volume of 2,524,797. The stock's fifty day simple moving average is $13.33 and its 200-day simple moving average is $14.42. F.N.B. Co. has a 1 year low of $10.88 and a 1 year high of $17.70. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 3.60 and a beta of 0.91. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during the quarter, compared to analysts' expectations of $409.52 million. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. During the same period last year, the company posted $0.34 EPS. Analysts forecast that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.48 annualized dividend and a yield of 3.41%. F.N.B.'s payout ratio is currently 38.10%.

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.