F.N.B. Corporation $FNB Stock Position Reduced by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in F.N.B. Corporation to 24,297,349 shares, representing a 0.6% decrease in holding during Q1 2023.
• F.N.B. reported an EPS of $0.36 for the last quarter, exceeding analysts' expectations of $0.33.
• The company announced a quarterly dividend of $0.12 per share, providing an annual yield of 3.1%.

Fuller & Thaler Asset Management Inc. reduced its stake in F.N.B. Corporation (NYSE:FNB - Free Report) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,297,349 shares of the bank's stock after selling 142,307 shares during the period. F.N.B. accounts for 1.3% of Fuller & Thaler Asset Management Inc.'s holdings, making the stock its 7th biggest holding. Fuller & Thaler Asset Management Inc. owned about 6.75% of F.N.B. worth $326,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in shares of F.N.B. by 76.8% in the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock worth $77,349,000 after purchasing an additional 2,273,736 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of F.N.B. in the 4th quarter worth approximately $15,801,000. Balyasny Asset Management L.P. purchased a new stake in shares of F.N.B. in the 4th quarter worth approximately $12,952,000. Northern Trust Corp lifted its position in shares of F.N.B. by 26.4% in the 4th quarter. Northern Trust Corp now owns 3,133,235 shares of the bank's stock worth $46,309,000 after purchasing an additional 655,383 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of F.N.B. by 485.4% in the 1st quarter. Victory Capital Management Inc. now owns 748,816 shares of the bank's stock worth $10,072,000 after purchasing an additional 620,891 shares during the period. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Stock Performance

FNB stock traded up $0.6610 during midday trading on Friday, hitting $16.5010. 15,604,309 shares of the stock traded hands, compared to its average volume of 7,191,251. The firm has a market cap of $5.93 billion, a P/E ratio of 12.89, a PEG ratio of 0.90 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. The stock's fifty day simple moving average is $15.27 and its 200-day simple moving average is $14.29. 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 released its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $438.21 million for the quarter, compared to analyst estimates 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 last year, the business earned $0.34 earnings per share. On average, analysts expect that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid 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 currently 37.50%.

Analysts Set New Price Targets

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

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.