LSV Asset Management Trims Stock Position in F.N.B. Corporation $FNB

LSV Asset Management decreased its holdings in F.N.B. Corporation (NYSE:FNB) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,812,100 shares of the bank’s stock after selling 36,100 shares during the quarter. LSV Asset Management owned 0.50% of F.N.B. worth $29,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNB. EverSource Wealth Advisors LLC raised its position in F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock worth $36,000 after acquiring an additional 2,420 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in shares of F.N.B. in the 3rd quarter worth $167,000. Jones Financial Companies Lllp increased its stake in shares of F.N.B. by 45.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 10,868 shares of the bank’s stock worth $176,000 after purchasing an additional 3,400 shares in the last quarter. Longboard Asset Management LP bought a new position in F.N.B. in the 3rd quarter worth $177,000. Finally, Quent Capital LLC lifted its position in F.N.B. by 10.2% during the third quarter. Quent Capital LLC now owns 11,089 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,030 shares in the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on FNB. Piper Sandler restated an “overweight” rating and issued a $21.00 price target (up previously from $20.00) on shares of F.N.B. in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a research report on Monday, December 29th. DA Davidson lowered shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Truist Financial lifted their price target on shares of F.N.B. from $19.00 to $19.50 and gave the company a “buy” rating in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Insider Activity

In related news, insider Gary L. Guerrieri sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total transaction of $265,050.00. Following the completion of the transaction, the insider directly owned 279,883 shares of the company’s stock, valued at approximately $4,945,532.61. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James L. Dutey sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total value of $670,000.00. Following the transaction, the insider owned 49,936 shares of the company’s stock, valued at $836,428. This represents a 44.48% decrease in their position. The SEC filing for this sale provides additional information. 1.37% of the stock is owned by corporate insiders.

F.N.B. Trading Up 1.0%

FNB stock opened at $18.07 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.90. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $19.14. The business has a 50 day simple moving average of $17.64 and a two-hundred day simple moving average of $16.55. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.81 and a beta of 0.92.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Tuesday, January 20th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. F.N.B. had a net margin of 20.98% and a return on equity of 8.76%. The firm had revenue of $457.78 million for the quarter, compared to analysts’ expectations of $457.87 million. During the same quarter last year, the business posted $0.30 earnings per share. Research analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.12 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.48 annualized dividend and a yield of 2.7%. F.N.B.’s payout ratio is presently 30.77%.

F.N.B. Profile

F.N.B. Corporation is a bank holding company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, FNB Bank, the company provides a broad range of commercial and consumer financial services. Founded in 1864 as the First National Bank of Pennsylvania, F.N.B. has grown through both organic expansion and strategic acquisitions to become a regional banking franchise.

The company’s main business activities include traditional deposit-taking and lending services, such as checking and savings accounts, mortgages, home equity lines of credit, and consumer and commercial loans.