F.N.B. Co. (NYSE:FNB) Sees Large Decline in Short Interest

F.N.B. Co. (NYSE:FNB - Get Free Report) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 7,580,000 shares, a drop of 5.4% from the October 31st total of 8,010,000 shares. Based on an average trading volume of 2,280,000 shares, the days-to-cover ratio is presently 3.3 days.

F.N.B. Trading Down 0.9 %

Shares of NYSE:FNB traded down $0.14 during trading on Tuesday, reaching $16.70. 952,993 shares of the company were exchanged, compared to its average volume of 2,214,379. The business's fifty day simple moving average is $15.15 and its 200-day simple moving average is $14.40. The firm has a market capitalization of $6.00 billion, a PE ratio of 15.32 and a beta of 0.99. F.N.B. has a 12-month low of $12.28 and a 12-month high of $17.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92.

F.N.B. (NYSE:FNB - Get Free Report) last posted its earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The business had revenue of $413.02 million for the quarter, compared to analysts' expectations of $409.80 million. On average, research analysts anticipate that F.N.B. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be given a $0.12 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. F.N.B.'s payout ratio is 44.04%.

Hedge Funds Weigh In On F.N.B.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of F.N.B. by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 166,292 shares of the bank's stock valued at $2,345,000 after acquiring an additional 10,959 shares during the last quarter. Cetera Investment Advisers grew its holdings in F.N.B. by 48.2% during the first quarter. Cetera Investment Advisers now owns 128,089 shares of the bank's stock worth $1,806,000 after acquiring an additional 41,665 shares during the period. Cetera Advisors LLC raised its position in F.N.B. by 253.4% during the first quarter. Cetera Advisors LLC now owns 92,986 shares of the bank's stock valued at $1,311,000 after acquiring an additional 66,676 shares in the last quarter. GAMMA Investing LLC boosted its position in F.N.B. by 113.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank's stock worth $45,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of F.N.B. by 83.7% during the 2nd quarter. Fulton Bank N.A. now owns 29,417 shares of the bank's stock worth $402,000 after purchasing an additional 13,405 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FNB. Piper Sandler reissued an "overweight" rating on shares of F.N.B. in a research report on Friday, October 18th. Stephens upped their price target on F.N.B. from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Raymond James lifted their price objective on F.N.B. from $17.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Wells Fargo & Company increased their target price on shares of F.N.B. from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, StockNews.com raised shares of F.N.B. from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. 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 company presently has an average rating of "Moderate Buy" and an average price target of $17.33.

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.