GAMMA Investing LLC Acquires 76,300 Shares of F.N.B. Corporation (NYSE:FNB)

GAMMA Investing LLC grew its holdings in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 1,442.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,588 shares of the bank's stock after purchasing an additional 76,300 shares during the period. GAMMA Investing LLC's holdings in F.N.B. were worth $1,097,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Prudential Financial Inc. grew its position in F.N.B. by 51.1% during the fourth quarter. Prudential Financial Inc. now owns 112,920 shares of the bank's stock worth $1,669,000 after buying an additional 38,180 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of F.N.B. by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank's stock valued at $58,239,000 after acquiring an additional 51,862 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of F.N.B. by 40.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,701 shares of the bank's stock valued at $84,000 after acquiring an additional 1,631 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of F.N.B. during the 4th quarter worth $386,000. Finally, Raymond James Financial Inc. bought a new position in shares of F.N.B. in the fourth quarter worth $15,801,000. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

NYSE:FNB traded up $0.14 on Thursday, hitting $13.78. The company had a trading volume of 3,050,325 shares, compared to its average volume of 2,556,154. F.N.B. Corporation has a 52 week low of $10.88 and a 52 week high of $17.70. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.98 and a beta of 0.91. The firm has a 50 day moving average of $13.57 and a two-hundred day moving average of $14.29.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $411.61 million during the quarter, compared to analysts' expectations of $409.52 million. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. During the same period in the prior year, the company earned $0.34 EPS. On average, research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, June 2nd. F.N.B.'s payout ratio is 38.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial initiated coverage on shares of F.N.B. in a research report on Tuesday, May 13th. They set a "buy" rating and a $16.50 price objective for the company. DA Davidson reaffirmed a "buy" rating and set 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 target on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price objective on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, F.N.B. has a consensus rating of "Buy" and an average price target of $17.57.

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.