Wedge Capital Management L L P NC lifted its holdings in F.N.B. Co. (NYSE:FNB - Free Report) by 37.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 328,792 shares of the bank's stock after purchasing an additional 90,424 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of F.N.B. worth $4,860,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC grew its stake in F.N.B. by 181.6% in the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank's stock valued at $41,045,000 after purchasing an additional 1,964,884 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of F.N.B. in the 3rd quarter valued at about $14,190,000. Assenagon Asset Management S.A. boosted its holdings in shares of F.N.B. by 490.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank's stock valued at $13,741,000 after buying an additional 772,134 shares in the last quarter. Jane Street Group LLC grew its position in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank's stock worth $5,038,000 after buying an additional 316,515 shares during the last quarter. Finally, State Street Corp raised its stake in shares of F.N.B. by 1.9% during the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank's stock worth $214,266,000 after acquiring an additional 278,825 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.
Insider Transactions at F.N.B.
In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of the transaction, the chief executive officer now owns 1,652,229 shares of the company's stock, valued at $27,261,778.50. The trade was a 7.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.22% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on FNB shares. Raymond James raised their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Stephens raised their price objective 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. Piper Sandler reaffirmed an "overweight" rating on shares of F.N.B. in a research report on Friday, October 18th. Wells Fargo & Company lowered 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. Finally, StockNews.com upgraded F.N.B. from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, F.N.B. presently has an average rating of "Moderate Buy" and an average target price of $18.00.
Read Our Latest Report on F.N.B.
F.N.B. Stock Performance
FNB traded up $0.28 on Monday, reaching $15.61. 4,140,039 shares of the stock were exchanged, compared to its average volume of 2,183,759. The company's 50-day moving average price is $15.73 and its 200 day moving average price is $14.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $5.61 billion, a PE ratio of 14.32, a PEG ratio of 4.41 and a beta of 1.01. F.N.B. Co. has a fifty-two week low of $12.49 and a fifty-two week high of $17.70.
F.N.B. (NYSE:FNB - Get Free Report) last issued 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 firm had revenue of $413.02 million during the quarter, compared to analysts' expectations of $409.80 million. As a group, sell-side analysts forecast that F.N.B. Co. will post 1.34 EPS for the current fiscal year.
F.N.B. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.'s dividend payout ratio (DPR) is currently 44.04%.
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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