KLP Kapitalforvaltning AS Makes New Investment in F.N.B. Co. (NYSE:FNB)

KLP Kapitalforvaltning AS acquired a new stake in F.N.B. Co. (NYSE:FNB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 73,900 shares of the bank's stock, valued at approximately $1,092,000.

Several other large investors have also modified their holdings of FNB. AlphaQuest LLC raised its position in F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank's stock valued at $27,000 after purchasing an additional 1,759 shares during the last quarter. Brooklyn Investment Group acquired a new position in F.N.B. in the third quarter valued at $31,000. Versant Capital Management Inc raised its holdings in shares of F.N.B. by 100.9% in the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank's stock valued at $59,000 after buying an additional 2,014 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of F.N.B. by 31.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank's stock worth $65,000 after buying an additional 1,100 shares during the period. Finally, Sandy Spring Bank acquired a new stake in shares of F.N.B. during the fourth quarter worth about $67,000. 79.25% of the stock is owned by institutional investors and hedge funds.

F.N.B. Price Performance

Shares of NYSE FNB traded down $1.53 during trading on Thursday, hitting $12.13. 4,757,344 shares of the company were exchanged, compared to its average volume of 2,341,894. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. F.N.B. Co. has a 1 year low of $12.08 and a 1 year high of $17.70. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 3.60 and a beta of 0.86. The firm's fifty day moving average price is $14.50 and its 200 day moving average price is $14.93.

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F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.96%. F.N.B.'s payout ratio is currently 38.10%.

Insiders Place Their Bets

In related news, Director David L. Motley sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 65,344 shares in the company, valued at $1,013,485.44. This represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William B. Campbell acquired 3,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased 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 of the company's stock, valued at $2,473,045.38. The trade was a 1.93 % increase in their position. The disclosure for this purchase can be found here. 1.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Keefe, Bruyette & Woods upped 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, December 4th. Wells Fargo & Company decreased their price target on F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, January 6th. DA Davidson boosted their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Piper Sandler cut their price objective on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.50.

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.