Heartland Advisors Inc. Acquires Shares of 133,872 F.N.B. Corporation (NYSE:FNB)

Key Points

• Heartland Advisors Inc. has made a new investment of approximately $1.80 million in F.N.B. Corporation, acquiring 133,872 shares during the first quarter.
• Analyst ratings for F.N.B. have improved, with multiple firms raising their price targets, including Wells Fargo, which increased its target from $18.00 to $20.00.
• F.N.B. Corporation recently announced a quarterly dividend of $0.12 per share, which represents an annualized yield of 3.07%.

Heartland Advisors Inc. bought a new position in F.N.B. Corporation (NYSE:FNB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 133,872 shares of the bank's stock, valued at approximately $1,801,000.

A number of other institutional investors have also bought and sold shares of FNB. Vanguard Group Inc. boosted its position in F.N.B. by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank's stock valued at $582,576,000 after buying an additional 305,826 shares during the period. Geode Capital Management LLC boosted its position in F.N.B. by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 5,961,104 shares of the bank's stock valued at $88,133,000 after buying an additional 21,325 shares during the period. First Trust Advisors LP boosted its position in F.N.B. by 76.8% in the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock valued at $77,349,000 after buying an additional 2,273,736 shares during the period. Norges Bank purchased a new position in F.N.B. in the 4th quarter valued at approximately $50,205,000. Finally, Northern Trust Corp boosted its position in F.N.B. by 26.4% in the 4th quarter. Northern Trust Corp now owns 3,133,235 shares of the bank's stock valued at $46,309,000 after buying an additional 655,383 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FNB. 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. DA Davidson lifted their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their price objective on shares of F.N.B. from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Truist Financial lifted their price objective on shares of F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $18.50 price objective (up from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.64.

F.N.B. Trading Up 0.7%

Shares of F.N.B. stock traded up $0.12 during trading hours on Wednesday, hitting $15.68. The company's stock had a trading volume of 3,495,979 shares, compared to its average volume of 3,193,433. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. The business has a fifty day moving average of $14.72 and a 200 day moving average of $14.29. The company has a market capitalization of $5.64 billion, a PE ratio of 12.25, a P/E/G ratio of 0.93 and a beta of 0.92. 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. (NYSE:FNB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $438.21 million during the quarter, compared to analyst estimates 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 last year, the business 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 declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Monday, June 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.