Envestnet Asset Management Inc. Increases Stake in F.N.B. Co. (NYSE:FNB)

Envestnet Asset Management Inc. lifted its stake in F.N.B. Co. (NYSE:FNBGet Rating) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,933 shares of the bank’s stock after purchasing an additional 5,849 shares during the quarter. Envestnet Asset Management Inc.’s holdings in F.N.B. were worth $1,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FNB. BlackRock Inc. raised its position in shares of F.N.B. by 13.1% in the 1st quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock valued at $497,953,000 after purchasing an additional 4,625,329 shares during the last quarter. Vanguard Group Inc. raised its position in shares of F.N.B. by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock valued at $437,721,000 after purchasing an additional 3,125,650 shares during the last quarter. Patriot Financial Partners GP LP purchased a new position in F.N.B. during the 1st quarter worth approximately $23,595,000. American Century Companies Inc. raised its position in F.N.B. by 14.3% during the 1st quarter. American Century Companies Inc. now owns 10,655,913 shares of the bank’s stock worth $132,666,000 after buying an additional 1,330,992 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in F.N.B. by 7.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,612,040 shares of the bank’s stock worth $219,274,000 after buying an additional 1,145,955 shares during the last quarter. 76.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at F.N.B.

In related news, Director William B. Campbell purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were purchased at an average price of $11.95 per share, with a total value of $47,800.00. Following the purchase, the director now owns 124,733 shares of the company’s stock, valued at $1,490,559.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director William B. Campbell purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were purchased at an average price of $11.95 per share, with a total value of $47,800.00. Following the purchase, the director now owns 124,733 shares of the company’s stock, valued at $1,490,559.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Malone sold 29,600 shares of F.N.B. stock in a transaction on Friday, October 21st. The stock was sold at an average price of $13.55, for a total transaction of $401,080.00. Following the sale, the director now directly owns 89,504 shares in the company, valued at approximately $1,212,779.20. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

F.N.B. Price Performance

Shares of NYSE FNB opened at $14.02 on Wednesday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.41 and a beta of 1.11. F.N.B. Co. has a 12 month low of $10.48 and a 12 month high of $14.71. The firm’s 50 day simple moving average is $13.12 and its 200-day simple moving average is $12.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87.

F.N.B. (NYSE:FNBGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. F.N.B. had a net margin of 27.57% and a return on equity of 8.40%. The business had revenue of $379.59 million for the quarter, compared to analysts’ expectations of $361.67 million. During the same quarter last year, the company earned $0.34 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Analysts expect that F.N.B. Co. will post 1.35 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 3.42%. F.N.B.’s dividend payout ratio is currently 42.48%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FNB shares. Truist Financial raised their price target on shares of F.N.B. from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Raymond James raised their price target on shares of F.N.B. from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, October 20th. StockNews.com started coverage on shares of F.N.B. in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, DA Davidson reissued a “buy” rating on shares of F.N.B. in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

F.N.B. Company Profile

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F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.

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Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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