F.N.B. Co. (NYSE:FNB) Position Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 17.7% in the first quarter, according to the company in 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 period. Wedge Capital Management L L P NC owned approximately 0.08% of F.N.B. worth $3,640,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. PL Capital Advisors LLC acquired a new stake in F.N.B. during the fourth quarter worth about $308,616,000. Norges Bank purchased a new stake in shares of F.N.B. during the 4th quarter worth about $50,205,000. First Trust Advisors LP increased its position in F.N.B. by 76.8% during the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock worth $77,349,000 after purchasing an additional 2,273,736 shares in the last quarter. Raymond James Financial Inc. purchased a new position in F.N.B. in the fourth quarter valued at approximately $15,801,000. Finally, Balyasny Asset Management L.P. acquired a new position in F.N.B. during the fourth quarter valued at approximately $12,952,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FNB. Wells Fargo & Company cut their target price on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note 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 target price for the company in a research report on Monday, April 21st. Truist Financial began coverage on F.N.B. in a report on Tuesday, May 13th. They set a "buy" rating and a $16.50 target price on the stock. Finally, DA Davidson restated a "buy" rating and issued a $19.00 price target on shares of F.N.B. in a report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.57.

F.N.B. Stock Down 0.8%

Shares of FNB traded down $0.11 during trading on Thursday, reaching $13.95. The company's stock had a trading volume of 1,242,929 shares, compared to its average volume of 2,705,455. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 3.60 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $13.39 and a two-hundred day moving average of $14.41. F.N.B. Co. has a twelve month low of $10.88 and a twelve month high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The firm had revenue of $411.61 million for the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. During the same period in the prior year, the firm posted $0.34 EPS. On average, sell-side analysts predict that F.N.B. Co. will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be paid a $0.12 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 3.44%. F.N.B.'s dividend payout ratio (DPR) is 38.10%.

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.