State Street Corp Boosts Stake in F.N.B. Co. (NYSE:FNB)

State Street Corp raised its stake in F.N.B. Co. (NYSE:FNB - Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,185,397 shares of the bank's stock after purchasing an additional 278,825 shares during the quarter. State Street Corp owned 4.22% of F.N.B. worth $214,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FNB. Stifel Financial Corp increased its stake in shares of F.N.B. by 6.6% during the 3rd quarter. Stifel Financial Corp now owns 28,669 shares of the bank's stock valued at $405,000 after acquiring an additional 1,768 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of F.N.B. by 10.7% in the 3rd quarter. Quantinno Capital Management LP now owns 133,693 shares of the bank's stock worth $1,886,000 after acquiring an additional 12,939 shares in the last quarter. Quarry LP acquired a new stake in shares of F.N.B. in the 3rd quarter worth about $73,000. Point72 DIFC Ltd acquired a new stake in F.N.B. during the third quarter valued at approximately $1,061,000. Finally, Point72 Asset Management L.P. acquired a new position in F.N.B. in the 3rd quarter worth approximately $14,190,000. 79.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the completion of the sale, the chief executive officer now owns 1,652,229 shares of the company's stock, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is owned by insiders.

F.N.B. Trading Down 1.3 %

Shares of NYSE FNB traded down $0.21 during midday trading on Thursday, reaching $16.08. The company had a trading volume of 959,422 shares, compared to its average volume of 2,201,961. The stock has a market cap of $5.78 billion, a PE ratio of 14.95 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The firm's fifty day moving average price is $15.53 and its 200-day moving average price is $14.52. F.N.B. Co. has a one year low of $12.49 and a one year high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $409.80 million. On average, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, December 2nd. F.N.B.'s dividend payout ratio is currently 44.04%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FNB shares. Keefe, Bruyette & Woods boosted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler reissued an "overweight" rating on shares of F.N.B. in a research note on Friday, October 18th. Raymond James lifted their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price target on F.N.B. from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Stephens increased their target price on shares of F.N.B. from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, F.N.B. has an average rating of "Moderate Buy" and an average price target of $17.67.

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.