F.N.B. Co. (NYSE:FNB) Shares Sold by Connable Office Inc.

Connable Office Inc. lowered its position in F.N.B. Co. (NYSE:FNB) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,827 shares of the bank’s stock after selling 5,176 shares during the quarter. Connable Office Inc.’s holdings in F.N.B. were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNB. MQS Management LLC acquired a new position in shares of F.N.B. in the third quarter worth about $438,000. Aigen Investment Management LP purchased a new stake in F.N.B. during the 3rd quarter worth approximately $339,000. GSA Capital Partners LLP acquired a new position in shares of F.N.B. in the 3rd quarter valued at approximately $447,000. Assetmark Inc. boosted its stake in shares of F.N.B. by 23.9% during the 3rd quarter. Assetmark Inc. now owns 13,117 shares of the bank’s stock valued at $185,000 after buying an additional 2,527 shares during the last quarter. Finally, Easterly Investment Partners LLC grew its position in shares of F.N.B. by 11.5% during the third quarter. Easterly Investment Partners LLC now owns 905,662 shares of the bank’s stock worth $12,779,000 after buying an additional 93,447 shares in the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on FNB. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stephens upped their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, F.N.B. has an average rating of “Moderate Buy” and a consensus target price of $16.33.

F.N.B. Stock Down 1.0 %

Shares of NYSE:FNB opened at $16.49 on Friday. The company’s fifty day moving average is $14.49 and its two-hundred day moving average is $14.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a 1-year low of $11.55 and a 1-year high of $16.97. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.12 and a beta of 0.95.

F.N.B. (NYSE:FNB) last issued 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 business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. Equities analysts anticipate that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is 44.04%.

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.