Invesco Ltd. Has $15.02 Million Stock Position in F.N.B. Corporation $FNB

Key Points

• Invesco Ltd. has reduced its holdings in F.N.B. Corporation by 3.0%, selling 34,705 shares and owning approximately 1.12 million shares valued at $15 million.
• Multiple institutional investors have increased their positions in F.N.B., with Victory Capital Management raising its stake by 485.4% in the first quarter.
• F.N.B. reported an EPS of $0.36 for the quarter, exceeding analysts' expectations and announced a quarterly dividend of $0.12 per share, representing a 2.9% yield.

Invesco Ltd. decreased its stake in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,116,734 shares of the bank's stock after selling 34,705 shares during the period. Invesco Ltd. owned 0.31% of F.N.B. worth $15,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its position in F.N.B. by 19.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 18,938 shares of the bank's stock worth $255,000 after buying an additional 3,086 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of F.N.B. by 4.8% in the 1st quarter. Teacher Retirement System of Texas now owns 88,338 shares of the bank's stock valued at $1,188,000 after acquiring an additional 4,078 shares during the last quarter. Deutsche Bank AG increased its stake in shares of F.N.B. by 332.9% in the 1st quarter. Deutsche Bank AG now owns 93,174 shares of the bank's stock valued at $1,253,000 after acquiring an additional 71,650 shares during the last quarter. GSA Capital Partners LLP increased its stake in F.N.B. by 159.3% during the 1st quarter. GSA Capital Partners LLP now owns 83,041 shares of the bank's stock worth $1,117,000 after purchasing an additional 51,011 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in F.N.B. by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,438 shares of the bank's stock worth $571,000 after purchasing an additional 2,983 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company's stock.

F.N.B. Trading Down 0.6%

Shares of FNB stock traded down $0.10 during mid-day trading on Thursday, reaching $16.70. 698,425 shares of the stock traded hands, compared to its average volume of 3,735,433. The stock's fifty day simple moving average is $15.44 and its two-hundred day simple moving average is $14.31. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. 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 announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.The firm had revenue of $438.21 million for the quarter, compared to analyst estimates of $424.39 million. During the same period last year, the firm posted $0.34 earnings per share. On average, research analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s dividend payout ratio (DPR) is presently 37.50%.

Analysts Set New Price Targets

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

F.N.B. Company 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.