LSV Asset Management Reduces Holdings in F.N.B. Corporation (NYSE:FNB)

Key Points

• LSV Asset Management reduced its stake in F.N.B. Corporation by 1.4% during the first quarter, now holding approximately 1.9 million shares valued at about $25.5 million.
• F.N.B. reported a quarterly earnings per share (EPS) of $0.36, exceeding the consensus estimate of $0.33, alongside a revenue of $438.21 million, surpassing the expected $424.39 million.
• The company declared a quarterly dividend of $0.12 per share, set to be paid on September 15th, with a dividend yield of 3.2%.

LSV Asset Management cut its stake in F.N.B. Corporation (NYSE:FNB - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,896,300 shares of the bank's stock after selling 27,400 shares during the quarter. LSV Asset Management owned about 0.53% of F.N.B. worth $25,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in F.N.B. during the fourth quarter valued at approximately $39,000. Parallel Advisors LLC boosted its holdings in F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock valued at $42,000 after acquiring an additional 995 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of F.N.B. in the first quarter worth approximately $42,000. Meeder Asset Management Inc. increased its stake 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 worth $46,000 after buying an additional 2,412 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in shares of F.N.B. in the first quarter valued at about $47,000. 79.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FNB has been the topic of several research reports. Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. DA Davidson increased their price objective 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 increased their price target on F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. Finally, Wells Fargo & Company raised their price target 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.64.

F.N.B. Stock Performance

FNB stock traded down $0.17 during midday trading on Thursday, hitting $14.73. 3,129,001 shares of the stock traded hands, compared to its average volume of 3,331,728. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. 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 firm has a market cap of $5.30 billion, a P/E ratio of 11.50, a PEG ratio of 0.86 and a beta of 0.94. The stock's fifty day simple moving average is $14.86 and its 200-day simple moving average is $14.29.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. The business had revenue of $438.21 million for the quarter, compared to the consensus estimate of $424.39 million. During the same period last year, the firm posted $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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. F.N.B.'s dividend payout ratio (DPR) is presently 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.