Quarry LP Acquires New Stake in F.N.B. Co. (NYSE:FNB)

Quarry LP purchased a new stake in F.N.B. Co. (NYSE:FNB) during the 3rd quarter, HoldingsChannel reports. The fund purchased 5,197 shares of the bank’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FNB. Dimensional Fund Advisors LP grew its stake in F.N.B. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after buying an additional 647,335 shares in the last quarter. Principal Financial Group Inc. increased its stake in F.N.B. by 2.6% in the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock valued at $69,879,000 after acquiring an additional 127,516 shares during the last quarter. Thrivent Financial for Lutherans raised its position in F.N.B. by 2.8% during the third quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock valued at $67,986,000 after purchasing an additional 130,972 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in F.N.B. by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock worth $54,868,000 after purchasing an additional 218,511 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in F.N.B. by 181.6% during the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after purchasing an additional 1,964,884 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

FNB stock opened at $16.55 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $15.38 and its two-hundred day moving average price is $14.47. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 15.18 and a beta of 0.99. F.N.B. Co. has a 12-month low of $12.47 and a 12-month high of $17.70.

F.N.B. (NYSE:FNB) last released its quarterly 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 for the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, equities analysts predict that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is currently 44.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stephens raised their price objective on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James lifted their target price on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. 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.com, F.N.B. currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

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.