Norges Bank Invests $50.21 Million in F.N.B. Co. (NYSE:FNB)

Norges Bank purchased a new position in shares of F.N.B. Co. (NYSE:FNB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,396,809 shares of the bank's stock, valued at approximately $50,205,000. Norges Bank owned approximately 0.94% of F.N.B. as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. PL Capital Advisors LLC acquired a new stake in F.N.B. during the 4th quarter worth approximately $308,616,000. Raymond James Financial Inc. acquired a new stake in shares of F.N.B. in the fourth quarter valued at $15,801,000. Point72 Asset Management L.P. purchased a new position in F.N.B. in the third quarter valued at $14,190,000. Assenagon Asset Management S.A. boosted its holdings in F.N.B. by 490.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank's stock valued at $13,741,000 after purchasing an additional 772,134 shares during the period. Finally, Fisher Asset Management LLC grew its stake in F.N.B. by 583.5% during the 4th quarter. Fisher Asset Management LLC now owns 666,990 shares of the bank's stock worth $9,858,000 after purchasing an additional 569,409 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

Insider Buying and Selling at F.N.B.

In related news, Director David L. Motley sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William B. Campbell bought 3,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $15.57 per share, with a total value of $46,710.00. Following the purchase, the director now directly owns 158,834 shares of the company's stock, valued at approximately $2,473,045.38. This trade represents 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 insiders.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FNB. 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 research note on Thursday, January 23rd. DA Davidson lifted their price target on shares of F.N.B. from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price target on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.17.

F.N.B. Stock Up 8.9 %

F.N.B. stock traded up $1.03 during mid-day trading on Wednesday, hitting $12.59. The company had a trading volume of 6,013,571 shares, compared to its average volume of 2,404,978. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. F.N.B. Co. has a 1 year low of $10.88 and a 1 year high of $17.70. The business has a fifty day moving average of $14.04 and a 200 day moving average of $14.83. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.60 and a beta of 0.86.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were given a $0.12 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.81%. F.N.B.'s dividend payout ratio (DPR) is presently 38.10%.

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.