Rhino Investment Partners Inc Takes $19.99 Million Position in F.N.B. Corporation $FNB

Key Points

• Rhino Investment Partners Inc recently invested $19.99 million in F.N.B. Corporation, acquiring 1,486,217 shares, which now represents 4.9% of their holdings and makes F.N.B. their seventh largest investment.
• F.N.B. Corporation reported earnings of $0.36 per share for the last quarter, exceeding expectations and marking an increase from $0.34 per share in the same quarter last year.
• The company declared a quarterly dividend of $0.12 per share, with an annualized yield of 3.0%, scheduled for payment on September 15th.

Rhino Investment Partners Inc bought a new position in shares of F.N.B. Corporation (NYSE:FNB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,486,217 shares of the bank's stock, valued at approximately $19,990,000. F.N.B. accounts for 4.9% of Rhino Investment Partners Inc's investment portfolio, making the stock its 7th biggest position. Rhino Investment Partners Inc owned about 0.41% of F.N.B. at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FNB. McClarren Financial Advisors Inc. bought a new stake in F.N.B. during the first quarter worth approximately $28,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in F.N.B. during the first quarter worth approximately $34,000. Parallel Advisors LLC boosted its position 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 valued at $42,000 after acquiring an additional 995 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of F.N.B. in the first quarter valued at approximately $42,000. Finally, Meeder Asset Management Inc. boosted its position in shares of F.N.B. by 233.5% in the first quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank's stock valued at $46,000 after acquiring an additional 2,412 shares during the period. Institutional investors own 79.25% of the company's stock.

Analyst Ratings Changes

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

F.N.B. Stock Performance

FNB stock traded up $0.18 during midday trading on Tuesday, hitting $16.62. The stock had a trading volume of 4,476,850 shares, compared to its average volume of 3,696,624. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.94 and a beta of 0.94. F.N.B. Corporation has a 52 week low of $10.88 and a 52 week high of $17.70. The stock has a 50-day simple moving average of $15.33 and a 200 day simple moving average of $14.27. 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 issued its earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $438.21 million during the quarter, compared to analysts' expectations 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 period last year, the business earned $0.34 earnings per share. As a group, equities research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

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

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.