Sequoia Financial Advisors LLC Increases Holdings in F.N.B. Corporation $FNB

Sequoia Financial Advisors LLC increased its position in F.N.B. Corporation (NYSE:FNB) by 83.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 115,720 shares of the bank’s stock after buying an additional 52,508 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in F.N.B. were worth $2,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System grew its stake in F.N.B. by 1,631.6% in the second quarter. California State Teachers Retirement System now owns 7,888,893 shares of the bank’s stock worth $150,520,000 after purchasing an additional 7,433,302 shares during the period. Rhino Investment Partners Inc grew its position in shares of F.N.B. by 47.8% in the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock worth $20,188,000 after buying an additional 390,526 shares during the period. Amundi grew its position in shares of F.N.B. by 980.6% in the 2nd quarter. Amundi now owns 382,193 shares of the bank’s stock worth $7,292,000 after buying an additional 346,824 shares during the period. SG Americas Securities LLC increased its stake in shares of F.N.B. by 585.2% in the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock worth $5,990,000 after acquiring an additional 305,961 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of F.N.B. in the 1st quarter worth about $3,381,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Performance

FNB stock opened at $18.32 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. F.N.B. Corporation has a 1 year low of $14.45 and a 1 year high of $19.59. The company has a market cap of $6.47 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The stock’s fifty day moving average price is $18.80 and its 200-day moving average price is $17.96.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.The company had revenue of $463.00 million during the quarter, compared to analysts’ expectations of $467.13 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, equities analysts forecast that F.N.B. Corporation will post 1.69 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 1st. F.N.B.’s payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FNB shares. UBS Group assumed coverage on F.N.B. in a research report on Monday. They issued a “neutral” rating and a $20.00 price target on the stock. Wells Fargo & Company increased their target price on F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Truist Financial reduced their price target on F.N.B. from $21.00 to $20.50 and set a “buy” rating for the company in a report on Monday, July 20th. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research report on Monday, July 20th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of F.N.B. in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Insider Activity at F.N.B.

In other news, insider Bryant Mitchell David sold 4,055 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $19.25, for a total transaction of $78,058.75. Following the completion of the sale, the insider owned 144,283 shares of the company’s stock, valued at $2,777,447.75. This represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

F.N.B. Company Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It operates primarily through its banking subsidiary, First National Bank of Pennsylvania, which provides services to consumers, businesses, and institutional clients.

The company offers a broad range of banking products and services, including checking and savings accounts, consumer lending, residential and commercial real estate financing, business loans, treasury management, and wealth management.