Kovitz Investment Group Partners LLC Acquires Shares of 17,538 F.N.B. Corporation $FNB

Key Points

• Kovitz Investment Group Partners LLC acquired a new position in F.N.B. Corporation, purchasing 17,538 shares valued at approximately $236,000.
• F.N.B. Corporation recently posted an EPS of $0.36 for the quarter, surpassing estimates, and had a net margin of 17.88%.
• The company announced a quarterly dividend of $0.12 per share, representing an annualized dividend yield of 2.9%.

Kovitz Investment Group Partners LLC purchased a new stake in shares of F.N.B. Corporation (NYSE:FNB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,538 shares of the bank's stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in F.N.B. by 5.7% during the first quarter. Neuberger Berman Group LLC now owns 35,123 shares of the bank's stock valued at $472,000 after acquiring an additional 1,889 shares during the last quarter. AIA Group Ltd lifted its holdings in shares of F.N.B. by 14.4% during the 1st quarter. AIA Group Ltd now owns 42,132 shares of the bank's stock valued at $567,000 after purchasing an additional 5,297 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in F.N.B. in the first quarter valued at about $411,000. Deutsche Bank AG raised its stake in F.N.B. by 332.9% in the first quarter. Deutsche Bank AG now owns 93,174 shares of the bank's stock valued at $1,253,000 after buying an additional 71,650 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in F.N.B. by 0.3% in the first quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank's stock valued at $531,694,000 after buying an additional 114,672 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Stock Performance

Shares of NYSE FNB traded up $0.25 during trading on Wednesday, reaching $16.78. 5,747,463 shares of the company traded hands, compared to its average volume of 3,742,176. The firm's fifty day simple moving average is $15.38 and its 200 day simple moving average is $14.29. The stock has a market cap of $6.02 billion, a P/E ratio of 13.11, a PEG ratio of 0.94 and a beta of 0.94. F.N.B. Corporation has a 12-month low of $10.88 and a 12-month high of $17.70. 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. (NYSE:FNB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $438.21 million during the quarter, compared to analyst estimates of $424.39 million. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.During the same quarter last year, the business posted $0.34 EPS. As a group, research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

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

Analysts Set New Price Targets

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

F.N.B. 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.