PNC Financial Services Group Inc. Has $1.10 Million Stock Position in F.N.B. Co. (NYSE:FNB)

PNC Financial Services Group Inc. decreased its holdings in F.N.B. Co. (NYSE:FNB - Free Report) by 33.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,128 shares of the bank's stock after selling 37,780 shares during the quarter. PNC Financial Services Group Inc.'s holdings in F.N.B. were worth $1,096,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FNB. Assetmark Inc. increased its position in shares of F.N.B. by 23.9% during the 3rd quarter. Assetmark Inc. now owns 13,117 shares of the bank's stock worth $185,000 after purchasing an additional 2,527 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in F.N.B. in the 3rd quarter valued at about $447,000. Signature Estate & Investment Advisors LLC acquired a new stake in F.N.B. in the 3rd quarter valued at about $326,000. Natixis Advisors LLC increased its position in F.N.B. by 4.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,705 shares of the bank's stock valued at $941,000 after acquiring an additional 2,591 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in F.N.B. in the 3rd quarter valued at about $251,000. Institutional investors and hedge funds own 79.25% of the company's stock.

F.N.B. Trading Down 1.3 %

Shares of NYSE FNB traded down $0.19 during mid-day trading on Thursday, hitting $13.54. The company's stock had a trading volume of 1,942,858 shares, compared to its average volume of 2,229,018. The company's fifty day simple moving average is $14.88 and its 200-day simple moving average is $14.99. F.N.B. Co. has a one year low of $12.49 and a one year high of $17.70. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 3.60 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94.

Remove Ads

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, March 3rd. F.N.B.'s payout ratio is 38.10%.

Analysts Set New Price Targets

FNB has been the subject of several research reports. Raymond James raised their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods raised their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company reduced their target price on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. DA Davidson raised their target price 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 reduced their target price on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Two investment 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Insider Buying and Selling

In related news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the transaction, the director now owns 65,344 shares of the company's stock, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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, for a total transaction of $46,710.00. Following the purchase, the director now directly owns 158,834 shares in the company, valued at $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.03% of the stock is owned by insiders.

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.