Victory Capital Management Inc. Acquires 620,891 Shares of F.N.B. Corporation (NYSE:FNB)

Victory Capital Management Inc. grew its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 485.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,816 shares of the bank's stock after buying an additional 620,891 shares during the quarter. Victory Capital Management Inc. owned 0.21% of F.N.B. worth $10,072,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FNB. OneDigital Investment Advisors LLC boosted its stake in F.N.B. by 19.5% in 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 during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of F.N.B. by 4.8% in the 1st quarter. Teacher Retirement System of Texas now owns 88,338 shares of the bank's stock valued at $1,188,000 after acquiring an additional 4,078 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of F.N.B. by 51.1% in the 4th quarter. Prudential Financial Inc. now owns 112,920 shares of the bank's stock valued at $1,669,000 after acquiring an additional 38,180 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of F.N.B. by 7.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,438 shares of the bank's stock valued at $571,000 after acquiring an additional 2,983 shares during the last quarter. Finally, AA Financial Advisors LLC bought a new position in F.N.B. during the 1st quarter worth $269,000. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Stock Up 0.2%

NYSE:FNB traded up $0.04 during trading hours on Friday, hitting $15.63. 7,957,749 shares of the company's stock traded hands, compared to its average volume of 4,758,121. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 0.93. F.N.B. Corporation has a twelve month low of $10.88 and a twelve month high of $17.70. The stock's fifty day moving average price is $14.67 and its two-hundred day moving average price is $14.27. The firm has a market cap of $5.62 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.92 and a beta of 0.92.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $424.39 million. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, research analysts expect that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.48 annualized dividend and a yield of 3.07%. F.N.B.'s payout ratio is 37.50%.

Wall Street Analyst Weigh In

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

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.