Hudson Edge Investment Partners Inc. Sells 28,826 Shares of F.N.B. Co. (NYSE:FNB)

Hudson Edge Investment Partners Inc. lowered its stake in F.N.B. Co. (NYSE:FNB) by 70.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,860 shares of the bank’s stock after selling 28,826 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in F.N.B. were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FNB. Brooklyn Investment Group acquired a new stake in F.N.B. in the third quarter valued at approximately $31,000. Richardson Financial Services Inc. lifted its holdings in shares of F.N.B. by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after purchasing an additional 1,473 shares during the period. Versant Capital Management Inc lifted its holdings in shares of F.N.B. by 100.9% during the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after purchasing an additional 2,014 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of F.N.B. by 31.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock worth $65,000 after purchasing an additional 1,100 shares during the period. Finally, R Squared Ltd acquired a new position in shares of F.N.B. during the fourth quarter worth $69,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

Insider Buying and Selling at F.N.B.

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William B. Campbell purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the purchase, the director now owns 158,834 shares of the company’s stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.03% of the company’s stock.

F.N.B. Price Performance

Shares of NYSE FNB opened at $14.78 on Friday. F.N.B. Co. has a twelve month low of $12.49 and a twelve month high of $17.70. The firm has a fifty day simple moving average of $15.21 and a 200 day simple moving average of $15.02. The company has a market capitalization of $5.31 billion, a PE ratio of 11.73, a P/E/G ratio of 3.60 and a beta of 1.01. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Monday, March 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, March 3rd. F.N.B.’s dividend payout ratio is presently 38.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. DA Davidson lifted their price target on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Raymond James lifted their price target on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler cut their price target on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

About F.N.B.

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.