Wedge Capital Management L L P NC reduced its holdings in F.N.B. Co. (NYSE:FNB - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,603 shares of the bank's stock after selling 58,189 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of F.N.B. worth $3,640,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. World Investment Advisors raised its holdings in shares of F.N.B. by 2.3% during the 4th quarter. World Investment Advisors now owns 29,393 shares of the bank's stock valued at $434,000 after buying an additional 667 shares in the last quarter. Savant Capital LLC raised its holdings in shares of F.N.B. by 1.4% during the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank's stock valued at $770,000 after buying an additional 708 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of F.N.B. by 5.9% during the 4th quarter. Forum Financial Management LP now owns 13,258 shares of the bank's stock valued at $196,000 after buying an additional 744 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of F.N.B. by 0.7% during the 4th quarter. Arizona State Retirement System now owns 104,354 shares of the bank's stock valued at $1,542,000 after buying an additional 765 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in shares of F.N.B. by 3.7% during the 4th quarter. United Services Automobile Association now owns 24,524 shares of the bank's stock valued at $362,000 after buying an additional 870 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the company. DA Davidson reissued a "buy" rating and set a $19.00 price objective on shares of F.N.B. in a report on Thursday, April 17th. Wells Fargo & Company decreased their price objective on F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods raised F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price objective on the stock in a report on Monday, April 21st. Finally, Truist Financial initiated coverage on F.N.B. in a research report on Tuesday, May 13th. They set a "buy" rating and a $16.50 price target on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $17.57.
Check Out Our Latest Report on F.N.B.
F.N.B. Trading Down 2.6%
FNB traded down $0.36 on Friday, hitting $13.61. 2,990,386 shares of the company were exchanged, compared to its average volume of 2,534,384. The firm has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $14.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94. F.N.B. Co. has a 12 month low of $10.88 and a 12 month high of $17.70. The stock has a market capitalization of $4.90 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 3.60 and a beta of 0.91.
F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The firm had revenue of $411.61 million for the quarter, compared to analyst estimates of $409.52 million. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. During the same period last year, the company earned $0.34 EPS. Sell-side analysts expect that F.N.B. Co. will post 1.45 earnings per share for the current year.
F.N.B. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.53%. F.N.B.'s dividend payout ratio is currently 38.10%.
F.N.B. Company Profile
(
Free Report)
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.
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