3,396,809 Shares in F.N.B. Co. (NYSE:FNB) Purchased by Norges Bank

Norges Bank purchased a new stake in F.N.B. Co. (NYSE:FNB) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,396,809 shares of the bank’s stock, valued at approximately $50,205,000.

Several other large investors have also recently added to or reduced their stakes in FNB. Savant Capital LLC boosted its holdings in shares of F.N.B. by 1.4% in the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank’s stock worth $770,000 after acquiring an additional 708 shares in the last quarter. Arizona State Retirement System raised its position in F.N.B. by 0.7% in the 4th quarter. Arizona State Retirement System now owns 104,354 shares of the bank’s stock valued at $1,542,000 after purchasing an additional 765 shares during the last quarter. United Services Automobile Association boosted its stake in F.N.B. by 3.7% in the fourth quarter. United Services Automobile Association now owns 24,524 shares of the bank’s stock worth $362,000 after purchasing an additional 870 shares in the last quarter. Bill Few Associates Inc. grew its holdings in shares of F.N.B. by 1.1% during the fourth quarter. Bill Few Associates Inc. now owns 92,332 shares of the bank’s stock worth $1,365,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of F.N.B. by 31.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after buying an additional 1,100 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director David L. Motley sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William B. Campbell purchased 3,000 shares of the stock in a transaction dated 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 in the company, valued at $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler decreased their price objective 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. Wells Fargo & Company decreased 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 research note on Monday, January 6th. Finally, DA Davidson raised their price target on shares of F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.50.

F.N.B. Stock Down 5.3 %

Shares of NYSE FNB opened at $11.46 on Friday. F.N.B. Co. has a 1 year low of $10.93 and a 1 year high of $17.70. The firm’s 50-day moving average is $14.42 and its 200-day moving average is $14.91. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.12 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 3.60 and a beta of 0.86.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 4.19%. F.N.B.’s payout ratio is presently 38.10%.

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.