Citigroup Inc. Reduces Position in F.N.B. Co. (NYSE:FNB)

Citigroup Inc. lowered its position in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 28.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 351,288 shares of the bank's stock after selling 139,417 shares during the period. Citigroup Inc. owned about 0.10% of F.N.B. worth $4,957,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of F.N.B. by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 166,292 shares of the bank's stock valued at $2,345,000 after buying an additional 10,959 shares during the period. Cetera Investment Advisers raised its holdings in F.N.B. by 48.2% in the 1st quarter. Cetera Investment Advisers now owns 128,089 shares of the bank's stock worth $1,806,000 after purchasing an additional 41,665 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of F.N.B. by 253.4% in the 1st quarter. Cetera Advisors LLC now owns 92,986 shares of the bank's stock worth $1,311,000 after purchasing an additional 66,676 shares during the period. GAMMA Investing LLC boosted its stake in shares of F.N.B. by 113.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank's stock valued at $45,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in shares of F.N.B. by 83.7% during the second quarter. Fulton Bank N.A. now owns 29,417 shares of the bank's stock valued at $402,000 after buying an additional 13,405 shares during the period. Institutional investors own 79.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of F.N.B. from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday. Stephens raised their target price on F.N.B. from $16.00 to $18.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. StockNews.com raised F.N.B. from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Raymond James raised their price objective on F.N.B. from $17.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of F.N.B. in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, F.N.B. presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

F.N.B. Stock Down 0.9 %

NYSE:FNB traded down $0.14 during trading hours on Tuesday, reaching $16.70. 952,993 shares of the company traded hands, compared to its average volume of 2,214,379. F.N.B. Co. has a 1 year low of $12.28 and a 1 year high of $17.70. The stock has a market capitalization of $6.00 billion, a P/E ratio of 15.32 and a beta of 0.99. The business's 50-day moving average price is $15.15 and its two-hundred day moving average price is $14.40. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. Analysts predict that F.N.B. Co. will post 1.34 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 Sunday, December 15th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.'s payout ratio is 44.04%.

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.