Verdence Capital Advisors LLC Cuts Stake in F.N.B. Co. (NYSE:FNB)

Verdence Capital Advisors LLC reduced its stake in F.N.B. Co. (NYSE:FNB) by 19.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,706 shares of the bank’s stock after selling 6,000 shares during the quarter. Verdence Capital Advisors LLC’s holdings in F.N.B. were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock worth $5,038,000 after buying an additional 316,515 shares during the last quarter. Oak Thistle LLC boosted its holdings in shares of F.N.B. by 117.7% in the 4th quarter. Oak Thistle LLC now owns 95,737 shares of the bank’s stock worth $1,415,000 after buying an additional 51,763 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of F.N.B. by 6.6% in the 3rd quarter. Stifel Financial Corp now owns 28,669 shares of the bank’s stock worth $405,000 after buying an additional 1,768 shares during the last quarter. Petiole USA ltd boosted its holdings in shares of F.N.B. by 48.1% in the 3rd quarter. Petiole USA ltd now owns 175,421 shares of the bank’s stock worth $2,475,000 after buying an additional 57,000 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of F.N.B. in the 3rd quarter worth about $447,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at F.N.B.

In other F.N.B. news, Director William B. Campbell acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $15.57 per share, with a total value of $46,710.00. Following the completion of the acquisition, the director now owns 158,834 shares of the company’s stock, valued at $2,473,045.38. This trade represents a 1.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $232,650.00. Following the transaction, the director now directly owns 65,344 shares of the company’s stock, valued at $1,013,485.44. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

F.N.B. Stock Down 1.4 %

FNB stock opened at $13.76 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.95 billion, a PE ratio of 10.92, a PEG ratio of 3.60 and a beta of 1.01. F.N.B. Co. has a twelve month low of $12.49 and a twelve month high of $17.70. The stock has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $15.06.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Monday, March 3rd. F.N.B.’s payout ratio is presently 38.10%.

Wall Street Analyst Weigh In

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

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.