F.N.B. Corporation $FNB Stock Position Increased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in F.N.B. Corporation by 10% during the first quarter, now holding approximately 1.17 million shares valued at about $15.74 million.
• F.N.B. recently reported quarterly earnings of $0.36 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.12 per share to be paid on September 15th.
• Several analysts have updated their price targets for F.N.B., with a consensus recommendation of "Buy" and an average target price of $18.64, reflecting growing confidence in the company's performance.

Wellington Management Group LLP grew its stake in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,169,933 shares of the bank's stock after buying an additional 106,571 shares during the quarter. Wellington Management Group LLP owned about 0.33% of F.N.B. worth $15,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its position in shares of F.N.B. by 19.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 18,938 shares of the bank's stock worth $255,000 after buying an additional 3,086 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of F.N.B. by 4.8% during the 1st quarter. Teacher Retirement System of Texas now owns 88,338 shares of the bank's stock worth $1,188,000 after buying an additional 4,078 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of F.N.B. by 159.3% during the 1st quarter. GSA Capital Partners LLP now owns 83,041 shares of the bank's stock worth $1,117,000 after buying an additional 51,011 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of F.N.B. by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,438 shares of the bank's stock worth $571,000 after buying an additional 2,983 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of F.N.B. during the 1st quarter worth about $641,000. 79.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FNB. DA Davidson boosted their price target on shares of F.N.B. from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of F.N.B. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Truist Financial boosted their price target on shares of F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price objective on shares of F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $18.50 price objective (up previously from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.64.

F.N.B. Stock Performance

Shares of FNB opened at $16.55 on Wednesday. The firm's 50 day moving average is $15.38 and its 200-day moving average is $14.29. The stock has a market capitalization of $5.94 billion, a P/E ratio of 12.93, a P/E/G 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 12-month low of $10.88 and a 12-month high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $438.21 million for 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 quarter in the previous year, the company posted $0.34 EPS. Equities research analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s dividend payout ratio (DPR) is 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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