Fulton Bank N.A. Acquires 13,405 Shares of F.N.B. Co. (NYSE:FNB)

Fulton Bank N.A. boosted its holdings in F.N.B. Co. (NYSE:FNB) by 83.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,417 shares of the bank’s stock after buying an additional 13,405 shares during the period. Fulton Bank N.A.’s holdings in F.N.B. were worth $402,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in F.N.B. by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,292,019 shares of the bank’s stock worth $293,193,000 after acquiring an additional 136,104 shares during the period. Norges Bank bought a new position in shares of F.N.B. during the 4th quarter worth about $49,533,000. Rafferty Asset Management LLC raised its position in shares of F.N.B. by 61.3% during the fourth quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock valued at $7,374,000 after buying an additional 203,429 shares during the last quarter. Federated Hermes Inc. raised its position in shares of F.N.B. by 31.0% during the fourth quarter. Federated Hermes Inc. now owns 378,727 shares of the bank’s stock valued at $5,215,000 after buying an additional 89,637 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of F.N.B. by 5.8% in the first quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after buying an additional 73,016 shares during the period. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

Shares of NYSE:FNB traded up $0.01 on Wednesday, hitting $13.50. The stock had a trading volume of 1,222,949 shares, compared to its average volume of 2,257,480. The firm’s 50 day moving average price is $13.86 and its 200-day moving average price is $13.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. F.N.B. Co. has a twelve month low of $10.24 and a twelve month high of $15.65. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 10.54 and a beta of 0.98.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $403.81 million during the quarter, compared to analyst estimates of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. F.N.B.’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities research analysts predict that F.N.B. Co. will post 1.39 earnings per share for the current year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Thursday, September 5th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.48 dividend on an annualized basis and a yield of 3.56%. F.N.B.’s dividend payout ratio is 38.71%.

Analyst Ratings Changes

Several research firms have commented on FNB. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.00 price target on shares of F.N.B. in a report on Wednesday, June 26th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Stephens reiterated an “overweight” rating and set a $16.00 price target on shares of F.N.B. in a research note on Thursday, July 18th. Wells Fargo & Company increased their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler raised their price objective on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and five have given 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 an average price target of $15.29.

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.