Franklin Resources Inc. Sells 171,667 Shares of F.N.B. Co. (NYSE:FNB)

Franklin Resources Inc. reduced its position in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 64.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,785 shares of the bank's stock after selling 171,667 shares during the period. Franklin Resources Inc.'s holdings in F.N.B. were worth $1,386,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank's stock valued at $5,038,000 after acquiring an additional 316,515 shares in the last quarter. Oak Thistle LLC grew its holdings in F.N.B. by 117.7% during the 4th quarter. Oak Thistle LLC now owns 95,737 shares of the bank's stock worth $1,415,000 after acquiring an additional 51,763 shares during the last quarter. Prudential Financial Inc. lifted its holdings in F.N.B. by 51.1% during the 4th quarter. Prudential Financial Inc. now owns 112,920 shares of the bank's stock worth $1,669,000 after buying an additional 38,180 shares during the period. Stifel Financial Corp boosted its stake in shares of F.N.B. by 6.6% in the 3rd quarter. Stifel Financial Corp now owns 28,669 shares of the bank's stock valued at $405,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of F.N.B. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank's stock worth $58,239,000 after buying an additional 51,862 shares during the period. 79.25% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William B. Campbell bought 3,000 shares of F.N.B. stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $15.57 per share, with a total value of $46,710.00. Following the purchase, the director now directly owns 158,834 shares of the company's stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. DA Davidson reiterated a "buy" rating and set a $19.00 price target on shares of F.N.B. in a report on Thursday. Piper Sandler reduced their target price on F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company cut their price target 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.00.

F.N.B. Stock Up 3.0 %

NYSE:FNB traded up $0.36 during trading hours on Friday, hitting $12.59. 5,441,767 shares of the company traded hands, compared to its average volume of 2,447,716. 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 market cap of $4.53 billion, a PE ratio of 10.00, a PEG ratio of 3.60 and a beta of 0.86. The firm's 50-day simple moving average is $13.56 and its 200-day simple moving average is $14.75. F.N.B. Co. has a one year low of $10.88 and a one year high of $17.70.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. The business 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 firm posted $0.34 EPS. Equities analysts predict 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 was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.81%. F.N.B.'s dividend payout ratio (DPR) 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.