Phocas Financial Corp. trimmed its stake in F.N.B. Co. (NYSE:FNB - Free Report) by 85.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,165 shares of the bank's stock after selling 557,522 shares during the period. F.N.B. comprises approximately 1.1% of Phocas Financial Corp.'s investment portfolio, making the stock its 23rd biggest position. Phocas Financial Corp.'s holdings in F.N.B. were worth $1,451,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brooklyn Investment Group acquired a new stake in F.N.B. during the 3rd quarter worth about $31,000. Versant Capital Management Inc grew its holdings in F.N.B. by 100.9% during the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank's stock worth $59,000 after acquiring an additional 2,014 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in F.N.B. by 31.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank's stock worth $65,000 after acquiring an additional 1,100 shares during the period. R Squared Ltd acquired a new stake in F.N.B. during the 4th quarter worth about $69,000. Finally, Quarry LP acquired a new stake in F.N.B. during the 3rd quarter worth about $73,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at F.N.B.
In related news, Director David L. Motley sold 15,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the transaction, the director now owns 65,344 shares of the company's stock, valued at approximately $1,013,485.44. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,652,229 shares in the company, valued at approximately $27,261,778.50. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on FNB. Raymond James increased their price target on F.N.B. from $17.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. 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 increased their price target on F.N.B. from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Piper Sandler cut their price objective on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.
Check Out Our Latest Report on FNB
F.N.B. Stock Up 1.2 %
Shares of FNB stock traded up $0.18 on Friday, reaching $14.83. 2,668,090 shares of the company were exchanged, compared to its average volume of 2,442,328. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.60 and a beta of 1.01. The company has a 50-day moving average of $15.18 and a 200-day moving average of $15.05. 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 one year low of $12.49 and a one year high of $17.70.
F.N.B. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Monday, March 3rd will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.24%. F.N.B.'s payout ratio is 38.10%.
F.N.B. Company Profile
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Free Report)
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.
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