Geode Capital Management LLC Sells 141,642 Shares of F.N.B. Co. (NYSE:FNB)

Geode Capital Management LLC cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,939,779 shares of the bank’s stock after selling 141,642 shares during the period. Geode Capital Management LLC’s holdings in F.N.B. were worth $83,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in F.N.B. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after purchasing an additional 647,335 shares in the last quarter. State Street Corp boosted its position in shares of F.N.B. by 1.9% during the third quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after buying an additional 278,825 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock valued at $69,879,000 after buying an additional 127,516 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings 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 worth $67,986,000 after buying an additional 130,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in F.N.B. by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock valued at $54,868,000 after buying an additional 218,511 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Trading Down 1.2 %

Shares of FNB stock opened at $14.40 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The firm has a market cap of $5.18 billion, a P/E ratio of 13.21 and a beta of 0.99. The company has a 50 day moving average of $15.71 and a 200-day moving average of $14.58. F.N.B. Co. has a 12-month low of $12.49 and a 12-month high of $17.70.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The firm had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. Sell-side analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Insiders Place Their Bets

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares in the company, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FNB shares. Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Raymond James boosted 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 increased their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.67.

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.