Vanguard Group Inc. Grows Stake in F.N.B. Corporation $FNB

Key Points

• Vanguard Group Inc. increased its holdings in F.N.B. Corporation to approximately $531.69 million, now owning about 11.00% of the company after acquiring additional shares.
• Analysts are optimistic about F.N.B., with a consensus rating of "Moderate Buy" and an average price target of $18.64, indicating confidence in the bank's performance.
• F.N.B. Corporation recently declared a quarterly dividend of $0.12 per share, reflecting a **3.1% yield** and a payout ratio of 37.50%.

Vanguard Group Inc. boosted its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 0.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,531,150 shares of the bank's stock after buying an additional 114,672 shares during the quarter. Vanguard Group Inc. owned approximately 11.00% of F.N.B. worth $531,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in F.N.B. during the first quarter valued at about $28,000. PNC Financial Services Group Inc. increased its stake in shares of F.N.B. by 3.4% during the first quarter. PNC Financial Services Group Inc. now owns 76,618 shares of the bank's stock valued at $1,031,000 after buying an additional 2,490 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of F.N.B. during the 1st quarter valued at about $641,000. GSA Capital Partners LLP lifted its stake in shares of F.N.B. by 159.3% in the 1st quarter. GSA Capital Partners LLP now owns 83,041 shares of the bank's stock valued at $1,117,000 after purchasing an additional 51,011 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of F.N.B. by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 315,585 shares of the bank's stock worth $4,245,000 after buying an additional 892 shares during the period. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Stock Up 0.5%

FNB stock traded up $0.07 during trading on Tuesday, hitting $15.89. 1,122,423 shares of the company's stock traded hands, compared to its average volume of 3,435,667. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70. The business has a fifty day simple moving average of $15.11 and a two-hundred day simple moving average of $14.26. The firm has a market capitalization of $5.71 billion, a P/E ratio of 12.44, a PEG ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41.

F.N.B. (NYSE:FNB - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $438.21 million for the quarter, compared to analyst estimates of $424.39 million. During the same period in the prior year, the company posted $0.34 EPS. Sell-side analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.'s payout ratio is 37.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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. Truist Financial increased their price target on shares of F.N.B. from $17.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $18.50 price target (up from $16.50) on shares of F.N.B. in a research report on Monday, July 21st. DA Davidson increased their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Wells Fargo & Company boosted their target price on F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock 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.