Squarepoint Ops LLC Reduces Holdings in F.N.B. Corporation $FNB

Key Points

• Squarepoint Ops LLC cut its F.N.B. stake by 92.1% in the second quarter, selling 1.89 million shares and retaining 160,849 shares valued at approximately $3.1 million. Institutional investors collectively own 79.25% of the company.
• F.N.B. reported quarterly EPS of $0.42, matching analyst expectations, while revenue of $463 million fell slightly short of estimates. The bank also declared a quarterly dividend of $0.13, representing a 2.8% yield.
• Analysts maintain a generally positive outlook, with F.N.B. carrying an average “Buy” rating and a consensus price target of $20.90, above its reported share price of $18.30.

Squarepoint Ops LLC reduced its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 92.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,849 shares of the bank's stock after selling 1,885,204 shares during the quarter. Squarepoint Ops LLC's holdings in F.N.B. were worth $3,069,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its holdings in shares of F.N.B. by 66.8% during the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank's stock worth $34,000 after buying an additional 820 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank's stock valued at $36,000 after buying an additional 2,420 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of F.N.B. by 50.7% in the second quarter. Parkside Financial Bank & Trust now owns 3,289 shares of the bank's stock worth $63,000 after buying an additional 1,106 shares in the last quarter. Triumph Capital Management purchased a new position in shares of F.N.B. in the third quarter worth about $55,000. Finally, Parallel Advisors LLC lifted its stake in shares of F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank's stock worth $73,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Trading Down 0.0%

Shares of FNB stock opened at $18.30 on Monday. The company's 50-day moving average price is $18.82 and its 200-day moving average price is $17.96. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.16 and a beta of 0.84. F.N.B. Corporation has a twelve month low of $14.45 and a twelve month high of $19.59.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $463.00 million during the quarter, compared to analyst estimates of $467.13 million. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts predict that F.N.B. Corporation will post 1.69 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 1st. F.N.B.'s dividend payout ratio is presently 30.95%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FNB shares. Truist Financial dropped their price objective on shares of F.N.B. from $21.00 to $20.50 and set a "buy" rating for the company in a research note on Monday, July 20th. Bank of America reissued a "neutral" rating and issued a $19.00 target price (down from $20.00) on shares of F.N.B. in a research note on Monday, July 20th. Weiss Ratings restated a "buy (b)" rating on shares of F.N.B. in a report on Friday, September 4th. Wells Fargo & Company upped their price target on F.N.B. from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of F.N.B. in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, F.N.B. currently has an average rating of "Buy" and an average price target of $20.90.

Insider Transactions at F.N.B.

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of F.N.B. stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $19.25, for a total value of $78,058.75. Following the sale, the insider owned 144,283 shares in the company, valued at $2,777,447.75. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

F.N.B. Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It operates primarily through its banking subsidiary, First National Bank of Pennsylvania, which provides services to consumers, businesses, and institutional clients.

The company offers a broad range of banking products and services, including checking and savings accounts, consumer lending, residential and commercial real estate financing, business loans, treasury management, and wealth management.

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