Raymond James Financial Inc. Makes New Investment in F.N.B. Co. (NYSE:FNB)

Raymond James Financial Inc. bought a new stake in shares of F.N.B. Co. (NYSE:FNB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,069,130 shares of the bank's stock, valued at approximately $15,801,000. Raymond James Financial Inc. owned approximately 0.30% of F.N.B. as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FNB. Renaissance Technologies LLC boosted its holdings in F.N.B. by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 262,827 shares of the bank's stock valued at $3,885,000 after purchasing an additional 5,800 shares in the last quarter. Bank of Montreal Can boosted its stake in F.N.B. by 15.7% in the 4th quarter. Bank of Montreal Can now owns 55,347 shares of the bank's stock valued at $818,000 after buying an additional 7,498 shares in the last quarter. Prospector Partners LLC bought a new stake in F.N.B. in the fourth quarter valued at $12,091,000. Federated Hermes Inc. raised its stake in F.N.B. by 5.6% during the fourth quarter. Federated Hermes Inc. now owns 314,693 shares of the bank's stock worth $4,651,000 after acquiring an additional 16,613 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of F.N.B. during the fourth quarter valued at $1,121,000. Institutional investors own 79.25% of the company's stock.

F.N.B. Price Performance

Shares of FNB traded down $0.11 during mid-day trading on Friday, hitting $13.30. 1,845,075 shares of the company traded hands, compared to its average volume of 2,477,532. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 3.60 and a beta of 0.86. The business has a 50-day moving average of $13.32 and a 200 day moving average of $14.72. 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 announced 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 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. As a group, equities analysts expect 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. Investors of record on Monday, March 3rd were given 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 3.61%. F.N.B.'s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. DA Davidson reiterated a "buy" rating and set a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. Piper Sandler cut their target price on shares of 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. Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company dropped their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, F.N.B. presently has an average rating of "Moderate Buy" and a consensus target price of $17.75.

Insiders Place Their Bets

In other F.N.B. news, Director William B. Campbell bought 3,000 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Motley sold 15,000 shares of the 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 approximately $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. Company 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.