Invesco Ltd. Reduces Stock Position in F.N.B. Co. (NYSE:FNB)

Invesco Ltd. trimmed its holdings in shares of F.N.B. Co. (NYSE:FNB - Free Report) by 11.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,151,439 shares of the bank's stock after selling 142,587 shares during the period. Invesco Ltd. owned approximately 0.32% of F.N.B. worth $17,018,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FNB. Vanguard Group Inc. grew its stake in shares of F.N.B. by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank's stock valued at $582,576,000 after buying an additional 305,826 shares during the period. PL Capital Advisors LLC bought a new stake in shares of F.N.B. during the fourth quarter valued at approximately $308,616,000. Geode Capital Management LLC raised its position in shares of F.N.B. by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 5,961,104 shares of the bank's stock worth $88,133,000 after purchasing an additional 21,325 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of F.N.B. by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank's stock worth $69,879,000 after purchasing an additional 127,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in F.N.B. by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank's stock valued at $58,239,000 after purchasing an additional 51,862 shares during the period. Institutional investors and hedge funds own 79.25% of the company's stock.

F.N.B. Stock Performance

Shares of F.N.B. stock traded down $0.08 during mid-day trading on Friday, hitting $13.33. 301,000 shares of the stock were exchanged, compared to its average volume of 2,472,039. F.N.B. Co. has a 12 month low of $10.88 and a 12 month high of $17.70. The company has a 50-day simple moving average of $13.37 and a 200 day simple moving average of $14.72. The company has a market capitalization of $4.79 billion, a P/E ratio of 10.58, a P/E/G ratio of 3.60 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The firm had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. During the same quarter in the prior year, the company earned $0.34 EPS. Sell-side analysts anticipate that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, March 3rd. F.N.B.'s payout ratio is 38.10%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FNB shares. Wells Fargo & Company dropped their price objective on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. DA Davidson reaffirmed a "buy" rating and issued a $19.00 price target on shares of F.N.B. in a research report on Thursday, April 17th. Piper Sandler decreased their price objective on F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 target price on the stock in a report on Monday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, F.N.B. currently has an average rating of "Moderate Buy" and a consensus price target of $17.75.

Insider Activity

In other news, Director William B. Campbell acquired 3,000 shares of F.N.B. stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the acquisition, the director now owns 158,834 shares in the company, valued at approximately $2,473,045.38. This trade represents a 1.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Motley sold 15,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares of the company's stock, valued at $1,013,485.44. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.37% of the company's stock.

About F.N.B.

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.