Hillsdale Investment Management Inc. Acquires New Stake in F.N.B. Corporation $FNB

Key Points

• Hillsdale Investment Management opened a new position in F.N.B. Corporation, buying 202,200 shares worth about $3.38 million in the first quarter and holding roughly 0.06% of the bank.
• Institutional interest in F.N.B. remains strong, with multiple funds adding to their stakes and 79.25% of the stock now owned by institutional investors.
• Analysts are generally positive on the stock: F.N.B. has a Buy consensus rating with an average price target of $20.80, while shares recently traded at $19.09 after the company matched quarterly EPS estimates.

Hillsdale Investment Management Inc. bought a new position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 202,200 shares of the bank's stock, valued at approximately $3,381,000. Hillsdale Investment Management Inc. owned approximately 0.06% of F.N.B. at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horizon Investments LLC bought a new stake in shares of F.N.B. in the 4th quarter worth $2,182,000. SG Americas Securities LLC grew its holdings in F.N.B. by 585.2% during the first quarter. SG Americas Securities LLC now owns 358,244 shares of the bank's stock worth $5,990,000 after acquiring an additional 305,961 shares during the period. Gibson Capital LLC raised its position in F.N.B. by 19.7% in the fourth quarter. Gibson Capital LLC now owns 21,776 shares of the bank's stock worth $372,000 after acquiring an additional 3,578 shares in the last quarter. Danske Bank A S lifted its holdings in F.N.B. by 32.1% in the 4th quarter. Danske Bank A S now owns 7,000 shares of the bank's stock valued at $120,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in shares of F.N.B. by 18.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 12,326 shares of the bank's stock valued at $211,000 after purchasing an additional 1,955 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

Insider Buying and Selling at F.N.B.

In related news, insider Gary L. Guerrieri sold 19,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the transaction, the insider directly owned 298,097 shares of the company's stock, valued at approximately $5,523,737.41. The trade was a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FNB shares. Weiss Ratings reiterated a "buy (b)" rating on shares of F.N.B. in a report on Tuesday, June 9th. Wall Street Zen cut shares of F.N.B. from a "hold" rating to a "sell" rating in a report on Sunday. Piper Sandler lifted their price target on shares of F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods upped their price target on F.N.B. from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective on F.N.B. from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $20.80.

F.N.B. Price Performance

FNB stock opened at $19.09 on Thursday. F.N.B. Corporation has a one year low of $14.45 and a one year high of $19.58. The firm has a 50-day moving average of $18.15 and a two-hundred day moving average of $17.64. The firm has a market capitalization of $6.79 billion, a PE ratio of 11.78, a P/E/G ratio of 0.97 and a beta of 0.84. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.

F.N.B. (NYSE:FNB - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $450.00 million for the quarter, compared to the consensus estimate of $454.06 million. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. During the same period last year, the firm posted $0.32 earnings per share. On average, analysts forecast that F.N.B. Corporation will post 1.73 earnings per share for the current year.

F.N.B. Company Profile

F.N.B. Corporation is a bank holding company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, FNB Bank, the company provides a broad range of commercial and consumer financial services. Founded in 1864 as the First National Bank of Pennsylvania, F.N.B. has grown through both organic expansion and strategic acquisitions to become a regional banking franchise.

The company's main business activities include traditional deposit-taking and lending services, such as checking and savings accounts, mortgages, home equity lines of credit, and consumer and commercial loans.

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