Rafferty Asset Management LLC Sells 72,305 Shares of F.N.B. Co. (NYSE:FNB)

Rafferty Asset Management LLC reduced its stake in F.N.B. Co. (NYSE:FNB) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 446,951 shares of the bank’s stock after selling 72,305 shares during the period. Rafferty Asset Management LLC owned about 0.12% of F.N.B. worth $6,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC lifted its stake in F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,759 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of F.N.B. during the fourth quarter worth $39,000. Sandy Spring Bank bought a new position in shares of F.N.B. in the 4th quarter valued at $67,000. R Squared Ltd acquired a new stake in shares of F.N.B. during the 4th quarter valued at $69,000. Finally, Smartleaf Asset Management LLC grew its position in F.N.B. by 40.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,701 shares of the bank’s stock worth $84,000 after acquiring an additional 1,631 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on FNB shares. Wells Fargo & Company dropped their target price on F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. DA Davidson reiterated a “buy” rating and set a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. Truist Financial started coverage on shares of F.N.B. in a research report on Tuesday, May 13th. They issued a “buy” rating and a $16.50 price target for the company. Piper Sandler dropped their price target 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 Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised shares of F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price objective on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, F.N.B. presently has an average rating of “Buy” and a consensus target price of $17.57.

Insider Buying and Selling

In other F.N.B. news, Director David L. Motley sold 15,000 shares of the business’s stock in a transaction that occurred on 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 approximately $1,013,485.44. The trade was a 18.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by insiders.

F.N.B. Stock Down 0.1%

F.N.B. stock opened at $14.44 on Friday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 3.60 and a beta of 0.88. F.N.B. Co. has a 52-week low of $10.88 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. The firm has a 50 day moving average price of $13.17 and a two-hundred day moving average price of $14.66.

F.N.B. (NYSE:FNB) last announced its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. During the same quarter last year, the firm earned $0.34 earnings per share. Equities analysts predict that F.N.B. Co. will post 1.45 EPS for the current year.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 3.32%. F.N.B.’s payout ratio is 38.10%.

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.