KBC Group NV Cuts Holdings in F.N.B. Corporation (NYSE:FNB)

KBC Group NV reduced its stake in shares of F.N.B. Corporation (NYSE:FNB - Free Report) by 94.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,493 shares of the bank's stock after selling 271,272 shares during the quarter. KBC Group NV's holdings in F.N.B. were worth $208,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. AlphaQuest LLC grew its holdings in F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank's stock worth $27,000 after acquiring an additional 1,759 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of F.N.B. during the fourth quarter worth about $39,000. Parallel Advisors LLC grew its stake in shares of F.N.B. by 47.4% in the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock worth $42,000 after purchasing an additional 995 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in F.N.B. during the 1st quarter valued at about $47,000. Finally, UMB Bank n.a. raised its position in F.N.B. by 34.5% during the 1st quarter. UMB Bank n.a. now owns 4,345 shares of the bank's stock valued at $58,000 after purchasing an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Stock Up 0.6%

NYSE FNB traded up $0.09 during trading hours on Wednesday, reaching $15.86. 3,948,827 shares of the company's stock traded hands, compared to its average volume of 2,637,997. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a 50-day simple moving average of $14.22 and a 200 day simple moving average of $14.19. The firm has a market cap of $5.71 billion, a PE ratio of 12.59, a PEG ratio of 1.13 and a beta of 0.92.

F.N.B. (NYSE:FNB - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $411.61 million during the quarter, compared to analyst estimates of $409.52 million. F.N.B. had a net margin of 17.78% and a return on equity of 7.97%. During the same period last year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, June 2nd. F.N.B.'s dividend payout ratio (DPR) is 38.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FNB. Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price objective on the stock in a research report on Monday, April 21st. Wall Street Zen cut shares of F.N.B. from a "hold" rating to a "sell" rating in a report on Saturday. DA Davidson restated a "buy" rating and issued a $19.00 price objective on shares of F.N.B. in a report on Thursday, April 17th. Wells Fargo & Company cut their target price on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Truist Financial initiated coverage on shares of F.N.B. in a research note on Tuesday, May 13th. They issued a "buy" rating and a $16.50 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.57.

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.