F.N.B. Co. (NYSE:FNB) Shares Sold by Connable Office Inc.

Connable Office Inc. cut its position in shares of F.N.B. Co. (NYSE:FNB) by 14.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,827 shares of the bank’s stock after selling 5,176 shares during the quarter. Connable Office Inc.’s holdings in F.N.B. were worth $421,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in F.N.B. by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after acquiring an additional 1,964,884 shares during the period. Dimensional Fund Advisors LP grew its position in shares of F.N.B. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock valued at $303,361,000 after purchasing an additional 647,335 shares during the period. Exchange Traded Concepts LLC acquired a new position in F.N.B. in the third quarter valued at $3,292,000. Choreo LLC acquired a new position in F.N.B. in the second quarter valued at $2,802,000. Finally, Assenagon Asset Management S.A. purchased a new position in F.N.B. during the third quarter worth about $2,223,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FNB. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stephens boosted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, F.N.B. has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.

F.N.B. Trading Down 1.0 %

NYSE FNB opened at $16.49 on Friday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a one year low of $11.55 and a one year high of $16.97. The company’s 50 day moving average price is $14.49 and its 200 day moving average price is $14.14.

F.N.B. (NYSE:FNB) 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). The business had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. On average, sell-side analysts predict that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

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.