Fort Washington Investment Advisors Inc. OH Sells 234,965 Shares of F.N.B. Corporation $FNB

Key Points

• Fort Washington Investment Advisors reduced its F.N.B. position by 234,965 shares, or 13.3%, leaving it with 1.53 million shares valued at approximately $26.4 million. Institutional investors and hedge funds collectively own 79.25% of the company.
• F.N.B. reported quarterly EPS of $0.42, matching analyst expectations, while revenue of $463 million fell slightly short of estimates. Analysts expect full-year EPS of $1.70.
• The bank pays a quarterly dividend of $0.13 per share, equivalent to a 3.0% annualized yield. Despite mixed analyst actions, F.N.B. has a consensus “Moderate Buy” rating and an average price target of $20.33.

Fort Washington Investment Advisors Inc. OH trimmed its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,789 shares of the bank's stock after selling 234,965 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.43% of F.N.B. worth $26,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC grew its stake 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 valued at $34,000 after purchasing an additional 820 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of F.N.B. by 50.7% in the second 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 purchased a new position in shares of F.N.B. in the second quarter worth about $121,000. Pinnacle Holdings LLC purchased a new position in shares of F.N.B. in the second quarter worth about $135,000. Finally, IFP Advisors Inc raised its stake 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 worth $138,000 after purchasing an additional 2,261 shares during the last quarter. 79.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of F.N.B. 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 completion of the transaction, the insider owned 144,283 shares of the company's stock, valued at approximately $2,777,447.75. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company's stock.

F.N.B. Price Performance

Shares of NYSE FNB opened at $17.18 on Friday. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.74 and a beta of 0.87. F.N.B. Corporation has a 12 month low of $14.45 and a 12 month high of $19.59. The firm's 50 day simple moving average is $18.09 and its 200-day simple moving average is $18.11. 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. (NYSE:FNB - Get Free Report) last posted its earnings results on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The firm had revenue of $463.00 million during the quarter, compared to analyst estimates of $467.13 million. During the same period in the previous year, the firm earned $0.36 EPS. Analysts expect that F.N.B. Corporation will post 1.70 EPS for the current year.

F.N.B. Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports 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 Saturday, August 15th. Weiss Ratings reissued a "buy (b)" rating on shares of F.N.B. in a report on Friday, September 4th. Piper Sandler restated an "overweight" rating on shares of F.N.B. in a research report on Monday, July 20th. Truist Financial lowered their price target on shares of F.N.B. from $20.50 to $19.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Finally, UBS Group initiated coverage on F.N.B. in a research report on Monday, September 14th. They set a "neutral" rating and a $20.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, F.N.B. currently has an average rating of "Moderate Buy" and a consensus price target of $20.33.

F.N.B. Company 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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