Raymond James Financial Inc. Invests $15.80 Million in F.N.B. Co. (NYSE:FNB)

Raymond James Financial Inc. 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 disclosure with the Securities & Exchange Commission. The fund purchased 1,069,130 shares of the bank's stock, valued at approximately $15,801,000. Raymond James Financial Inc. owned 0.30% of F.N.B. as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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. Headlands Technologies LLC acquired a new stake in F.N.B. during the 4th quarter worth approximately $39,000. Versant Capital Management Inc grew its stake in shares of F.N.B. by 100.9% in the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank's stock valued at $59,000 after purchasing an additional 2,014 shares during the last quarter. Sandy Spring Bank acquired a new position in shares of F.N.B. in the fourth quarter valued at approximately $67,000. Finally, R Squared Ltd purchased a new stake in shares of F.N.B. during the fourth quarter worth approximately $69,000. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Trading Down 0.9 %

Shares of FNB traded down $0.12 during trading hours on Friday, hitting $13.30. The stock had a trading volume of 1,009,083 shares, compared to its average volume of 2,475,944. The firm has a market cap of $4.78 billion, a P/E ratio of 10.54, a P/E/G ratio of 3.60 and a beta of 0.86. F.N.B. Co. has a 12-month low of $10.88 and a 12-month high of $17.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94. The company's fifty day simple moving average is $13.37 and its 200 day simple moving average is $14.72.

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

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, March 3rd. F.N.B.'s payout ratio is 38.10%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FNB. DA Davidson restated a "buy" rating and issued a $19.00 target price on shares of F.N.B. in a research note on Thursday, April 17th. Keefe, Bruyette & Woods raised F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 target price for the company in a research note on Monday. Wells Fargo & Company decreased their price target on 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. Finally, Piper Sandler cut their price objective on 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, F.N.B. currently has a consensus rating of "Moderate Buy" and an average price target of $17.75.

Insider Activity

In related news, Director David L. Motley sold 15,000 shares of F.N.B. 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 sale, the director now directly owns 65,344 shares in the company, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William B. Campbell bought 3,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $15.57 per share, with a total value of $46,710.00. Following the transaction, the director now owns 158,834 shares in the company, 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. Company insiders own 1.37% of the company's stock.

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.