GSA Capital Partners LLP Grows Stock Holdings in F.N.B. Corporation (NYSE:FNB)

Key Points

• GSA Capital Partners LLP increased its stake in F.N.B. Corporation by 159.3% in the first quarter, owning 83,041 shares valued at approximately $1.12 million.
• Analysts have raised their price targets for F.N.B., with Wells Fargo increasing the target from $18.00 to $20.00, and maintaining an "overweight" rating.
• F.N.B. reported quarterly earnings of $0.36 EPS, exceeding estimates, and announced a quarterly dividend of $0.12 per share, reflecting a yield of 3.10%.

GSA Capital Partners LLP lifted its position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 159.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,041 shares of the bank's stock after buying an additional 51,011 shares during the period. GSA Capital Partners LLP's holdings in F.N.B. were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of F.N.B. during the 4th quarter worth approximately $39,000. Parallel Advisors LLC increased its holdings in F.N.B. by 47.4% in the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock valued at $42,000 after purchasing an additional 995 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in F.N.B. in the 1st quarter valued at approximately $42,000. Meeder Asset Management Inc. increased its holdings in F.N.B. by 233.5% in the 1st quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank's stock valued at $46,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in F.N.B. in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 79.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FNB shares. Wells Fargo & Company lifted their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a report on Monday, July 21st. Truist Financial raised their price target 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. 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. Finally, DA Davidson raised their price target 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.64.

F.N.B. Stock Down 3.1%

FNB stock traded down $0.47 during midday trading on Friday, hitting $14.85. The company's stock had a trading volume of 8,160,364 shares, compared to its average volume of 5,873,108. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70. The firm has a market capitalization of $5.34 billion, a P/E ratio of 11.60, a PEG ratio of 0.90 and a beta of 0.94. The firm has a 50-day simple moving average of $14.80 and a 200-day simple moving average of $14.30.

F.N.B. (NYSE:FNB - Get Free Report) last released 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 business had revenue of $438.21 million during 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 period in the previous year, the company earned $0.34 EPS. As a group, equities analysts forecast that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s payout ratio is 37.50%.

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.