Readystate Asset Management LP Invests $554,000 in F.N.B. Corporation (NYSE:FNB)

Readystate Asset Management LP purchased a new position in F.N.B. Corporation (NYSE:FNB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,182 shares of the bank's stock, valued at approximately $554,000.

A number of other large investors have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in F.N.B. during the fourth quarter valued at approximately $39,000. Parallel Advisors LLC increased its stake in F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock valued at $42,000 after purchasing an additional 995 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in F.N.B. during the 1st quarter valued at approximately $42,000. Harbor Investment Advisory LLC acquired a new position in F.N.B. during the 1st quarter valued at approximately $47,000. Finally, UMB Bank n.a. increased its stake 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 in the last quarter. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Price Performance

FNB traded down $0.53 on Thursday, reaching $15.59. 10,564,623 shares of the company's stock were exchanged, compared to its average volume of 4,389,084. The stock has a market cap of $5.61 billion, a PE ratio of 12.18, a P/E/G ratio of 0.95 and a beta of 0.92. F.N.B. Corporation has a twelve month low of $10.88 and a twelve month high of $17.70. The stock's fifty day moving average price is $14.64 and its 200-day moving average price is $14.27. 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 posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share 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 analyst estimates 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 period in the previous year, the business posted $0.34 earnings per share. Sell-side analysts expect that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 3.08%. F.N.B.'s dividend payout ratio is currently 37.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FNB shares. DA Davidson set a $19.00 price target on shares of F.N.B. and gave the company a "buy" rating in a research note on Monday. Wall Street Zen upgraded shares of F.N.B. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a report on Monday. Truist Financial raised their target price on shares of F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company raised 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.