F.N.B. Corporation $FNB Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in F.N.B. Corporation by 1.0%, bringing its ownership to approximately 3.1 million shares valued at $41.7 million.
• Several institutional investors increased their holdings in F.N.B., with Brooklyn Investment Group growing its stake by 70.3% during the first quarter.
• Analysts have a consensus "Buy" rating for F.N.B., with the price target rising to around $18.64, influenced by positive earnings and ratings changes from multiple firms.

Northern Trust Corp lessened its stake in F.N.B. Corporation (NYSE:FNB - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,101,022 shares of the bank's stock after selling 32,213 shares during the quarter. Northern Trust Corp owned about 0.86% of F.N.B. worth $41,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNB. Marshall Wace LLP purchased a new position in F.N.B. in the 4th quarter worth approximately $638,000. Price T Rowe Associates Inc. MD boosted its holdings in F.N.B. by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 207,273 shares of the bank's stock worth $3,064,000 after acquiring an additional 18,045 shares during the period. Boothbay Fund Management LLC boosted its holdings in F.N.B. by 103.7% in the 4th quarter. Boothbay Fund Management LLC now owns 31,459 shares of the bank's stock worth $465,000 after acquiring an additional 16,015 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in F.N.B. in the 4th quarter worth approximately $629,000. Finally, Comerica Bank boosted its holdings in F.N.B. by 6.1% in the 4th quarter. Comerica Bank now owns 377,659 shares of the bank's stock worth $5,582,000 after acquiring an additional 21,842 shares during the period. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Stock Performance

FNB traded up $0.07 during trading hours on Wednesday, hitting $16.46. 7,468,146 shares of the stock were exchanged, compared to its average volume of 7,422,649. The stock has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $14.34. F.N.B. Corporation has a 12 month low of $10.88 and a 12 month high of $17.70. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $424.39 million. During the same period last year, the business posted $0.34 earnings per share. Analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 annualized dividend and a yield of 2.9%. F.N.B.'s dividend payout ratio (DPR) is currently 37.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" 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 research note on Monday, July 21st. Truist Financial increased their target price on F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. DA Davidson increased their target price on F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, F.N.B. presently has an average rating of "Buy" and a consensus target price of $18.64.

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.