Algert Global LLC Boosts Stake in F.N.B. Corporation $FNB

Key Points

• Algert Global LLC increased its stake in F.N.B. Corporation by 135.2% during the first quarter, with a total of 76,718 shares valued at $1,032,000.
• Analysts have set new price targets for F.N.B., with a consensus rating of "Buy" and an average target price of $18.64, following several upgrades from various financial institutions.
• F.N.B. recently reported quarterly earnings of $0.36 per share, exceeding estimates and showcasing a net margin of 17.88%, while announcing a quarterly dividend of $0.12 per share.

Algert Global LLC increased its position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 135.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,718 shares of the bank's stock after acquiring an additional 44,100 shares during the quarter. Algert Global LLC's holdings in F.N.B. were worth $1,032,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new position in shares of F.N.B. during the first quarter worth $28,000. Parallel Advisors LLC grew its stake in F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock worth $42,000 after buying an additional 995 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in F.N.B. during the 1st quarter worth $42,000. Meeder Asset Management Inc. increased its position in F.N.B. by 233.5% during the 1st quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank's stock valued at $46,000 after buying an additional 2,412 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in F.N.B. in the first quarter valued at about $47,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Stock Performance

NYSE:FNB traded down $0.10 during mid-day trading on Thursday, hitting $16.69. The company's stock had a trading volume of 1,745,235 shares, compared to its average volume of 3,740,839. The business's fifty day moving average is $15.44 and its two-hundred day moving average is $14.31. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70.

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 (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.The business had revenue of $438.21 million during the quarter, compared to analysts' expectations of $424.39 million. During the same quarter in the previous year, the firm posted $0.34 EPS. Analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. F.N.B.'s dividend payout ratio is currently 37.50%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FNB. 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 reiterated an "outperform" rating and issued a $18.50 target price (up from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. Wells Fargo & Company boosted their target price on shares of F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Truist Financial raised their price target on shares of F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, DA Davidson lifted their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target 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.