Horizon Investments LLC Purchases Shares of 127,605 F.N.B. Corporation $FNB

Key Points

• Horizon Investments LLC bought a new stake of 127,605 F.N.B. shares in Q4 (≈$2.18M), and institutional investors now own about 79.25% of the company.
• Analysts have recently raised targets and the stock carries an average Buy rating with a mean price target of roughly $20.20 (several firms lifting targets to $20–$21).
• F.N.B. reported Q earnings of $0.38 EPS (in line) with revenue slightly under estimates, trades at a P/E of 11.06, and raised its quarterly dividend to $0.13 (annualized yield ≈2.9%).

Horizon Investments LLC purchased a new stake in F.N.B. Corporation (NYSE:FNB - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 127,605 shares of the bank's stock, valued at approximately $2,182,000.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of F.N.B. by 4.3% in the 4th quarter. GAMMA Investing LLC now owns 15,745 shares of the bank's stock valued at $269,000 after purchasing an additional 649 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of F.N.B. by 18.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,522 shares of the bank's stock valued at $73,000 after acquiring an additional 720 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of F.N.B. by 6.6% during the 4th quarter. Quent Capital LLC now owns 11,823 shares of the bank's stock valued at $202,000 after acquiring an additional 734 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of F.N.B. by 1.8% during the 2nd quarter. Captrust Financial Advisors now owns 87,304 shares of the bank's stock valued at $1,273,000 after acquiring an additional 1,514 shares in the last quarter. Finally, Danske Bank A S lifted its holdings in shares of F.N.B. by 32.1% during 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 in the last quarter. Institutional investors and hedge funds own 79.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FNB shares. Truist Financial lifted their target price on shares of F.N.B. from $19.50 to $20.00 and gave the company a "buy" rating in a report on Monday, April 20th. Keefe, Bruyette & Woods lifted their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Finally, Piper Sandler restated an "overweight" rating and set a $21.00 target price (up from $20.00) on shares of F.N.B. in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, F.N.B. presently has an average rating of "Buy" and an average price target of $20.20.

F.N.B. Stock Performance

NYSE:FNB opened at $17.91 on Wednesday. F.N.B. Corporation has a twelve month low of $13.38 and a twelve month high of $19.14. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.86 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The firm's fifty day simple moving average is $17.04 and its 200 day simple moving average is $17.00.

F.N.B. (NYSE:FNB - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. The firm had revenue of $450.26 million for the quarter, compared to the consensus estimate of $454.06 million. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts expect that F.N.B. Corporation will post 1.72 earnings per share for the current fiscal year.

F.N.B. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.13 per share. This is a positive change from F.N.B.'s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.52 annualized dividend and a yield of 2.9%. F.N.B.'s payout ratio is presently 29.63%.

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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