F.N.B. Corporation $FNB Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its F.N.B. stake by 758.2% in the third quarter, adding 814,690 shares to own 922,134 shares valued at approximately $15.9 million. Institutional investors collectively own 79.25% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $20.33, versus the stock’s $17.25 opening price.
• F.N.B. reported quarterly EPS of $0.42, matching estimates, and revenue of $463 million. The company pays a quarterly dividend of $0.13, equivalent to a 3.0% annualized yield.

Assenagon Asset Management S.A. raised its holdings in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 758.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 922,134 shares of the bank's stock after buying an additional 814,690 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of F.N.B. worth $15,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FNB. Root Financial Partners LLC grew its position in F.N.B. by 66.8% during the 1st quarter. Root Financial Partners LLC now owns 2,047 shares of the bank's stock worth $34,000 after purchasing an additional 820 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in F.N.B. by 50.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,289 shares of the bank's stock valued at $63,000 after purchasing an additional 1,106 shares during the period. Nykredit A S acquired a new stake in F.N.B. during the 2nd quarter valued at $121,000. Pinnacle Holdings LLC purchased a new stake in shares of F.N.B. in the second quarter valued at $135,000. Finally, IFP Advisors Inc lifted its holdings in shares of F.N.B. by 45.3% in the second quarter. IFP Advisors Inc now owns 7,248 shares of the bank's stock valued at $138,000 after purchasing an additional 2,261 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company's stock.

Insider Activity

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $19.25, for a total value of $78,058.75. Following the sale, the insider directly owned 144,283 shares in the company, valued at $2,777,447.75. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

FNB has been the subject of several recent analyst reports. UBS Group initiated coverage on F.N.B. in a research report on Monday, September 14th. They issued a "neutral" rating and a $20.00 target price for the company. Truist Financial dropped their price target on F.N.B. from $20.50 to $19.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company dropped their price target on F.N.B. from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 29th. Wall Street Zen raised F.N.B. from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Bank of America restated a "neutral" rating and set a $19.00 price objective (down from $20.00) on shares of F.N.B. in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.33.

F.N.B. Stock Up 0.1%

Shares of F.N.B. stock opened at $17.25 on Monday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 0.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. F.N.B. Corporation has a 52-week low of $14.55 and a 52-week high of $19.59. The stock has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $18.12.

F.N.B. (NYSE:FNB - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $467.13 million. During the same quarter last year, the firm earned $0.36 EPS. On average, equities research analysts expect that F.N.B. Corporation will post 1.70 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.13 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.52 annualized dividend and a dividend yield of 3.0%. F.N.B.'s dividend payout ratio (DPR) is presently 30.95%.

F.N.B. Profile

F.N.B. Corporation NYSE: FNB is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, First National Bank, the company provides banking and related financial services to consumers, businesses, government entities and institutions.

FNB's products and services include checking and savings accounts, consumer and residential lending, commercial loans, treasury management, electronic banking and credit-related services. The company also offers wealth management, trust and investment services, insurance solutions and capital markets services through specialized business units.

First National Bank traces its history to 1864, when it was established in Greenville, Pennsylvania.

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