HB Wealth Management LLC Boosts Stock Position in F.N.B. Corporation (NYSE:FNB)

Key Points

• HB Wealth Management LLC significantly increased its stake in F.N.B. Corporation by 1,665.3%, owning 207,285 shares valued at approximately $2.79 million.
• F.N.B. reported a quarterly earnings per share (EPS) of $0.36, exceeding analysts' estimates and marking an improvement from the previous year's EPS of $0.34.
• The company announced a quarterly dividend of $0.12 per share, translating to an annualized dividend yield of 3.07% and a payout ratio of 37.50%.

HB Wealth Management LLC increased its position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 1,665.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 207,285 shares of the bank's stock after buying an additional 195,543 shares during the quarter. HB Wealth Management LLC owned about 0.06% of F.N.B. worth $2,788,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FNB. Norges Bank acquired a new position in F.N.B. during the 4th quarter worth approximately $50,205,000. First Trust Advisors LP raised its stake in F.N.B. by 76.8% during the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock worth $77,349,000 after buying an additional 2,273,736 shares during the period. Raymond James Financial Inc. bought a new stake in F.N.B. during the 4th quarter worth approximately $15,801,000. Balyasny Asset Management L.P. bought a new stake in F.N.B. during the 4th quarter worth approximately $12,952,000. Finally, Prospector Partners LLC bought a new stake in F.N.B. during the 4th quarter worth approximately $12,091,000. 79.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. DA Davidson boosted their price objective on F.N.B. from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Truist Financial boosted their price objective on F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their price objective on F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Wall Street Zen raised F.N.B. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $18.50 target price (up from $16.50) on shares of F.N.B. in a report on Monday, July 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.64.

F.N.B. Stock Performance

Shares of FNB stock traded down $0.07 during trading on Thursday, hitting $15.41. The company's stock had a trading volume of 4,205,146 shares, compared to its average volume of 3,230,415. F.N.B. Corporation has a 52 week low of $10.88 and a 52 week high of $17.70. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $14.75 and a 200-day moving average of $14.30. The company has a market cap of $5.54 billion, a PE ratio of 12.05, a P/E/G ratio of 0.92 and a beta of 0.92.

F.N.B. (NYSE:FNB - Get Free Report) last posted its earnings results 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 firm had revenue of $438.21 million for the quarter, compared to the consensus estimate of $424.39 million. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, research analysts anticipate 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 announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were given a dividend of $0.12 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 3.12%. F.N.B.'s dividend payout ratio is currently 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.