F.N.B. Corporation $FNB Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in F.N.B. Corporation by 175.9%, acquiring an additional 472,300 shares to bring its total holdings to 740,798 shares valued at approximately $9.9 million.
• Several institutional investors also increased their positions in F.N.B., with ownership by hedge funds now comprising 79.25% of the company's stock.
• F.N.B. recently posted quarterly earnings of $0.36 per share, surpassing estimates, and announced a quarterly dividend of $0.12 per share with a yield of 2.9%.

Hsbc Holdings PLC boosted its holdings in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 175.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,798 shares of the bank's stock after acquiring an additional 472,300 shares during the period. Hsbc Holdings PLC owned 0.21% of F.N.B. worth $9,935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FNB. Forum Financial Management LP grew its stake in shares of F.N.B. by 5.9% in the 4th quarter. Forum Financial Management LP now owns 13,258 shares of the bank's stock valued at $196,000 after buying an additional 744 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of F.N.B. by 3.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 25,489 shares of the bank's stock worth $343,000 after purchasing an additional 783 shares during the period. LPL Financial LLC increased its holdings in F.N.B. by 0.4% in the 1st quarter. LPL Financial LLC now owns 224,171 shares of the bank's stock valued at $3,015,000 after purchasing an additional 886 shares during the last quarter. Federated Hermes Inc. increased its holdings in F.N.B. by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 315,585 shares of the bank's stock valued at $4,245,000 after purchasing an additional 892 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in F.N.B. by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 86,051 shares of the bank's stock valued at $1,157,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

Analyst Ratings Changes

FNB has been the subject of several research reports. Truist Financial lifted their target price on shares of F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. DA Davidson lifted their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $18.50 target price (up from $16.50) on shares of F.N.B. in a report on Monday, July 21st. Wells Fargo & Company increased their target price on shares of F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of F.N.B. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $18.64.

F.N.B. Stock Performance

Shares of NYSE:FNB traded down $0.02 during midday trading on Friday, hitting $16.69. The stock had a trading volume of 7,371,693 shares, compared to its average volume of 3,802,992. The company has a market capitalization of $5.99 billion, a PE ratio of 13.04, a P/E/G ratio of 0.96 and a beta of 0.94. The stock has a 50 day moving average price of $15.50 and a two-hundred day moving average price of $14.31. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 17.88% and a return on equity of 7.94%. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.9%. F.N.B.'s payout ratio is currently 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.