Bank of America Corp DE Has $48.54 Million Stock Position in F.N.B. Co. (NYSE:FNB)

Bank of America Corp DE reduced its position in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,284,413 shares of the bank's stock after selling 172,298 shares during the period. Bank of America Corp DE owned approximately 0.91% of F.N.B. worth $48,544,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. World Investment Advisors grew its stake in 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 acquiring an additional 667 shares in the last quarter. Savant Capital LLC increased its holdings in F.N.B. by 1.4% in the fourth quarter. Savant Capital LLC now owns 52,065 shares of the bank's stock worth $770,000 after buying an additional 708 shares during the last quarter. Forum Financial Management LP lifted its holdings in F.N.B. by 5.9% in the 4th quarter. Forum Financial Management LP now owns 13,258 shares of the bank's stock worth $196,000 after purchasing an additional 744 shares during the last quarter. Arizona State Retirement System lifted its holdings in F.N.B. by 0.7% in the 4th quarter. Arizona State Retirement System now owns 104,354 shares of the bank's stock worth $1,542,000 after purchasing an additional 765 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in F.N.B. by 3.7% in the 4th quarter. United Services Automobile Association now owns 24,524 shares of the bank's stock worth $362,000 after purchasing an additional 870 shares during the last quarter. 79.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at F.N.B.

In related news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the sale, the director now owns 65,344 shares of the company's stock, valued at approximately $1,013,485.44. This trade represents a 18.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FNB shares. Wells Fargo & Company reduced their target price on F.N.B. from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Truist Financial started coverage on F.N.B. in a research report on Tuesday, May 13th. They set a "buy" rating and a $16.50 price objective on the stock. Piper Sandler lowered their price objective on F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. DA Davidson restated a "buy" rating and set a $19.00 price objective on shares of F.N.B. in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price objective on the stock in a research report on Monday, April 21st. One equities 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's stock. 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. Trading Down 0.2%

NYSE FNB traded down $0.04 on Tuesday, reaching $14.32. The company had a trading volume of 148,543 shares, compared to its average volume of 2,477,278. The stock's 50 day moving average is $13.19 and its 200-day moving average is $14.66. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 3.60 and a beta of 0.88. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. F.N.B. Co. has a 52 week low of $10.88 and a 52 week high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. The company had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. During the same period in the prior year, the company earned $0.34 earnings per share. Equities analysts predict that F.N.B. Co. will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Monday, June 2nd. F.N.B.'s dividend payout ratio is presently 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.