VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 71,500 F.N.B. Corporation $FNB

Key Points

• Virginia Retirement Systems acquired 71,500 shares of F.N.B. valued at approximately $1.36 million, while other major investors—including Goldman Sachs and Royal Bank of Canada—also increased their positions. Institutional investors collectively own 79.25% of the company.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $20.90, compared with the stock’s reported price of $18.30.
• F.N.B. reported quarterly EPS of $0.42, matching estimates, and declared a quarterly dividend of $0.13 per share, equivalent to an annualized yield of approximately 2.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in F.N.B. Corporation (NYSE:FNB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 71,500 shares of the bank's stock, valued at approximately $1,364,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada boosted its position in F.N.B. by 11.6% in the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank's stock valued at $3,692,000 after buying an additional 28,570 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of F.N.B. by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank's stock valued at $2,058,000 after acquiring an additional 29,248 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank's stock valued at $20,353,000 after acquiring an additional 660,387 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of F.N.B. by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank's stock worth $14,112,000 after acquiring an additional 58,672 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of F.N.B. by 3,723.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank's stock worth $36,000 after acquiring an additional 2,420 shares in the last quarter. Institutional investors own 79.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of F.N.B. in a report on Friday, September 4th. Piper Sandler reissued an "overweight" rating on shares of F.N.B. in a research note on Monday, July 20th. Wells Fargo & Company increased their target price on F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Truist Financial cut their price target on F.N.B. from $21.00 to $20.50 and set a "buy" rating for the company in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.90.

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $18.30 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $18.82 and a 200 day simple moving average of $17.95. F.N.B. Corporation has a fifty-two week low of $14.45 and a fifty-two week high of $19.59. The firm has a market cap of $6.46 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.16 and a beta of 0.84.

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

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 1st. F.N.B.'s dividend payout ratio is 30.95%.

Insider Transactions at F.N.B.

In related news, insider Bryant Mitchell David sold 4,055 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $19.25, for a total value of $78,058.75. Following the transaction, the insider owned 144,283 shares in the company, valued at $2,777,447.75. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

F.N.B. Company 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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