Pictet Asset Management SA Has $270,000 Stock Position in F.N.B. Co. (NYSE:FNB)

Pictet Asset Management SA increased its stake in shares of F.N.B. Co. (NYSE:FNBGet Rating) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,860 shares of the bank’s stock after purchasing an additional 2,399 shares during the period. Pictet Asset Management SA’s holdings in F.N.B. were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of F.N.B. by 13.1% during the first quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock worth $497,953,000 after purchasing an additional 4,625,329 shares during the period. Vanguard Group Inc. grew its stake in shares of F.N.B. by 9.8% during the first quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock worth $437,721,000 after purchasing an additional 3,125,650 shares during the period. State Street Corp grew its stake in shares of F.N.B. by 5.3% during the first quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock worth $233,515,000 after purchasing an additional 942,178 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of F.N.B. by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 17,612,040 shares of the bank’s stock worth $219,274,000 after purchasing an additional 1,145,955 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of F.N.B. by 14.3% during the first quarter. American Century Companies Inc. now owns 10,655,913 shares of the bank’s stock worth $132,666,000 after purchasing an additional 1,330,992 shares during the period. 76.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $13.88 on Thursday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.28 and a beta of 1.11. The stock’s 50-day moving average is $13.15 and its 200-day moving average is $12.18. F.N.B. Co. has a one year low of $10.48 and a one year high of $14.71. 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 results on Wednesday, October 19th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $379.59 million for the quarter, compared to analyst estimates of $361.67 million. F.N.B. had a return on equity of 8.40% and a net margin of 27.57%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. Equities analysts predict that F.N.B. Co. will post 1.35 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.46%. F.N.B.’s dividend payout ratio (DPR) is 42.48%.

F.N.B. Profile

(Get Rating)

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.

Further Reading

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

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