Edgestream Partners L.P. Takes Position in F.N.B. Co. (NYSE:FNB)

Edgestream Partners L.P. purchased a new position in shares of F.N.B. Co. (NYSE:FNB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 77,401 shares of the bank's stock, valued at approximately $1,092,000.

A number of other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of F.N.B. by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank's stock valued at $41,045,000 after buying an additional 1,964,884 shares during the period. Dimensional Fund Advisors LP raised its position in F.N.B. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank's stock valued at $303,361,000 after purchasing an additional 647,335 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of F.N.B. in the 3rd quarter valued at $3,292,000. Charles Schwab Investment Management Inc. grew its holdings in shares of F.N.B. by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank's stock worth $54,868,000 after purchasing an additional 218,511 shares during the period. Finally, Choreo LLC acquired a new stake in shares of F.N.B. during the 2nd quarter worth about $2,802,000. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Price Performance

F.N.B. stock traded down $0.15 during midday trading on Thursday, reaching $16.54. The company's stock had a trading volume of 1,601,778 shares, compared to its average volume of 2,207,462. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a fifty-two week low of $12.47 and a fifty-two week high of $17.70. The firm has a market capitalization of $5.95 billion, a PE ratio of 15.32 and a beta of 0.99. The stock's 50 day simple moving average is $15.27 and its 200 day simple moving average is $14.43.

F.N.B. (NYSE:FNB - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The company had revenue of $413.02 million for the quarter, compared to analysts' expectations of $409.80 million. On average, equities research analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.90%. F.N.B.'s dividend payout ratio is presently 44.04%.

Analyst Ratings Changes

FNB has been the subject of several research analyst reports. Stephens raised their price target on F.N.B. from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Piper Sandler reaffirmed an "overweight" rating on shares of F.N.B. in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on F.N.B. from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of F.N.B. from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, StockNews.com upgraded F.N.B. from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.

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.