First Trust Advisors LP Purchases 2,273,736 Shares of F.N.B. Co. (NYSE:FNB)

First Trust Advisors LP lifted its position in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 76.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,233,363 shares of the bank's stock after purchasing an additional 2,273,736 shares during the quarter. First Trust Advisors LP owned 1.46% of F.N.B. worth $77,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in F.N.B. by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank's stock valued at $582,576,000 after buying an additional 305,826 shares during the last quarter. PL Capital Advisors LLC bought a new position in shares of F.N.B. during the 4th quarter worth $308,616,000. Geode Capital Management LLC boosted its stake in F.N.B. by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 5,961,104 shares of the bank's stock worth $88,133,000 after purchasing an additional 21,325 shares during the period. Principal Financial Group Inc. grew its stake in F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank's stock valued at $69,879,000 after acquiring an additional 127,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in F.N.B. by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank's stock worth $58,239,000 after acquiring an additional 51,862 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler decreased their target price on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. DA Davidson reissued a "buy" rating and set a $19.00 price target on shares of F.N.B. in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods raised shares of 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.75.

F.N.B. Stock Performance

F.N.B. stock traded down $0.11 during trading on Friday, reaching $13.30. The company had a trading volume of 1,845,075 shares, compared to its average volume of 2,472,683. F.N.B. Co. has a 52 week low of $10.88 and a 52 week high of $17.70. The firm's 50-day simple moving average is $13.32 and its 200 day simple moving average is $14.73. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 3.60 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during 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 quarter in the prior year, the business posted $0.34 EPS. Sell-side analysts forecast that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were given a dividend of $0.12 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.61%. F.N.B.'s payout ratio is 38.10%.

Insider Activity

In other F.N.B. news, Director William B. Campbell purchased 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $15.57 per share, with a total value of $46,710.00. Following the purchase, the director now owns 158,834 shares of the company's stock, valued at approximately $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Motley sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares in the company, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.37% of the company's stock.

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.