PL Capital Advisors LLC Takes Position in F.N.B. Co. (NYSE:FNB)

PL Capital Advisors LLC bought a new position in F.N.B. Co. (NYSE:FNB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,412,765 shares of the bank’s stock, valued at approximately $20,881,000. F.N.B. makes up about 7.1% of PL Capital Advisors LLC’s holdings, making the stock its 6th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in F.N.B. during the 3rd quarter worth approximately $14,190,000. Assenagon Asset Management S.A. raised its holdings in shares of F.N.B. by 490.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank’s stock valued at $13,741,000 after acquiring an additional 772,134 shares in the last quarter. Jane Street Group LLC lifted its stake in F.N.B. by 780.7% in the third quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock worth $5,038,000 after acquiring an additional 316,515 shares during the period. State Street Corp boosted its holdings in F.N.B. by 1.9% in the third quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after acquiring an additional 278,825 shares in the last quarter. Finally, KBC Group NV increased its position in F.N.B. by 1,164.9% during the 4th quarter. KBC Group NV now owns 286,765 shares of the bank’s stock valued at $4,238,000 after purchasing an additional 264,094 shares during the period. 79.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at F.N.B.

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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 of the company’s stock, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction that occurred on 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 sale, the director now owns 65,344 shares of the company’s stock, valued at $1,013,485.44. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

F.N.B. Stock Down 0.7 %

Shares of F.N.B. stock opened at $14.53 on Wednesday. The company has a 50-day simple moving average of $15.17 and a two-hundred day simple moving average of $15.05. The stock has a market capitalization of $5.22 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 3.60 and a beta of 1.01. F.N.B. Co. has a 52-week low of $12.49 and a 52-week high of $17.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Monday, March 3rd will be issued a $0.12 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.30%. F.N.B.’s payout ratio is currently 38.10%.

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.