Bank of New York Mellon Corp lifted its stake in shares of F.N.B. Co. (NYSE:FNB – Get Rating) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,159,676 shares of the bank’s stock after acquiring an additional 54,114 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.19% of F.N.B. worth $48,252,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. First Command Bank bought a new position in F.N.B. in the 2nd quarter worth approximately $27,000. IFP Advisors Inc boosted its stake in F.N.B. by 196.0% in the 3rd quarter. IFP Advisors Inc now owns 2,451 shares of the bank’s stock worth $30,000 after purchasing an additional 1,623 shares during the period. TCI Wealth Advisors Inc. boosted its stake in F.N.B. by 72.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,645 shares of the bank’s stock worth $31,000 after purchasing an additional 1,114 shares during the period. Old North State Trust LLC bought a new position in F.N.B. in the 3rd quarter worth approximately $39,000. Finally, Bessemer Group Inc. bought a new position in F.N.B. in the 3rd quarter worth approximately $52,000. 76.07% of the stock is currently owned by institutional investors.
F.N.B. Stock Down 0.9 %
NYSE FNB opened at $12.78 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $4.61 billion, a P/E ratio of 10.56 and a beta of 1.10. F.N.B. Co. has a one year low of $10.48 and a one year high of $14.71. The stock has a 50 day moving average price of $13.81 and a 200-day moving average price of $13.25.
F.N.B. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, March 3rd will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, March 2nd. This represents a $0.48 annualized dividend and a yield of 3.76%. F.N.B.’s payout ratio is presently 39.67%.
Insider Activity at F.N.B.
In related news, Director William B. Campbell purchased 1,900 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were bought at an average price of $13.49 per share, for a total transaction of $25,631.00. Following the acquisition, the director now owns 127,619 shares of the company’s stock, valued at approximately $1,721,580.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Gary L. Guerrieri sold 5,000 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $14.61, for a total transaction of $73,050.00. Following the sale, the insider now owns 89,317 shares in the company, valued at approximately $1,304,921.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William B. Campbell purchased 1,900 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were bought at an average price of $13.49 per share, for a total transaction of $25,631.00. Following the acquisition, the director now directly owns 127,619 shares in the company, valued at approximately $1,721,580.31. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have weighed in on FNB. Keefe, Bruyette & Woods downgraded F.N.B. from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $16.00 to $15.50 in a research note on Monday, December 12th. Wells Fargo & Company upped their price target on F.N.B. from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.30.
F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.
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