F.N.B. Corporation $FNB Stake Increased by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its stake in F.N.B. Corporation by 332.9%, owning 93,174 shares valued at $1.25 million.
• Analysts are optimistic about F.N.B., with several increasing their target prices and most rating the stock as a "Buy."
• F.N.B. announced a quarterly dividend of $0.12, resulting in an annual yield of 2.9%.

Deutsche Bank AG grew its holdings in F.N.B. Corporation (NYSE:FNB - Free Report) by 332.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,174 shares of the bank's stock after purchasing an additional 71,650 shares during the period. Deutsche Bank AG's holdings in F.N.B. were worth $1,253,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new stake in shares of F.N.B. in the first quarter valued at $28,000. Parallel Advisors LLC lifted its holdings 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 valued at $42,000 after purchasing an additional 995 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of F.N.B. in the first quarter valued at $42,000. Meeder Asset Management Inc. lifted its holdings in shares of F.N.B. by 233.5% in the first quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank's stock valued at $46,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of F.N.B. in the first quarter valued at $47,000. Hedge funds and other institutional investors own 79.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price 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. DA Davidson boosted their price target 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 boosted their price target on shares of F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $18.50 price target (up from $16.50) on shares of F.N.B. in a report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of F.N.B. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $18.64.

F.N.B. Trading Up 4.2%

Shares of NYSE:FNB opened at $16.5010 on Friday. The stock has a market capitalization of $5.93 billion, a PE ratio of 12.89, a P/E/G ratio of 0.94 and a beta of 0.94. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70. The firm has a fifty day moving average price of $15.27 and a 200 day moving average price of $14.28. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41.

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, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $438.21 million during 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 posted $0.34 earnings per share. Analysts expect that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.12 dividend. The ex-dividend date 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 is currently 37.50%.

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.

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