Wedge Capital Management L L P NC Has $3.98 Million Stock Position in F.N.B. Co. (NYSE:FNB)

Wedge Capital Management L L P NC trimmed its position in F.N.B. Co. (NYSE:FNB) by 17.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,962 shares of the bank’s stock after selling 62,437 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of F.N.B. worth $3,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNB. Vestor Capital LLC acquired a new position in shares of F.N.B. during the 4th quarter worth about $42,000. LRI Investments LLC acquired a new position in shares of F.N.B. during the 1st quarter worth about $45,000. GAMMA Investing LLC grew its position in shares of F.N.B. by 113.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after buying an additional 1,764 shares during the period. Hexagon Capital Partners LLC grew its position in shares of F.N.B. by 272.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 3,882 shares of the bank’s stock worth $53,000 after buying an additional 2,841 shares during the period. Finally, Hart & Patterson Financial Group LLC acquired a new position in shares of F.N.B. during the 4th quarter worth about $140,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stephens restated an “overweight” rating and set a $16.00 target price on shares of F.N.B. in a research report on Thursday, July 18th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $16.00 target price on shares of F.N.B. in a research report on Wednesday, June 26th. Piper Sandler lifted their price objective on F.N.B. from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, StockNews.com cut F.N.B. from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, F.N.B. presently has an average rating of “Moderate Buy” and a consensus price target of $15.29.

F.N.B. Stock Up 2.1 %

NYSE FNB traded up $0.29 during trading on Thursday, hitting $13.91. The stock had a trading volume of 2,258,721 shares, compared to its average volume of 2,248,857. The company has a market capitalization of $5.00 billion, a PE ratio of 11.21, a P/E/G ratio of 10.54 and a beta of 0.98. The company’s 50-day moving average price is $13.88 and its two-hundred day moving average price is $13.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. F.N.B. Co. has a 12 month low of $10.24 and a 12 month high of $15.65.

F.N.B. (NYSE:FNB) last released its earnings results on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $403.81 million during the quarter, compared to the consensus estimate of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, sell-side analysts forecast that F.N.B. Co. will post 1.39 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, September 5th. F.N.B.’s payout ratio is 38.71%.

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.