Arizona State Retirement System Sells 2,501 Shares of F.N.B. Co. (NYSE:FNB)

Arizona State Retirement System cut its position in shares of F.N.B. Co. (NYSE:FNB) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,306 shares of the bank’s stock after selling 2,501 shares during the period. Arizona State Retirement System’s holdings in F.N.B. were worth $1,381,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in F.N.B. by 27.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,171,990 shares of the bank’s stock valued at $14,592,000 after buying an additional 248,892 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in F.N.B. by 49.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 151,346 shares of the bank’s stock valued at $1,884,000 after acquiring an additional 50,271 shares during the period. Private Advisor Group LLC raised its position in F.N.B. by 10.7% in the first quarter. Private Advisor Group LLC now owns 15,696 shares of the bank’s stock worth $195,000 after purchasing an additional 1,515 shares in the last quarter. Natixis Advisors L.P. lifted its stake in F.N.B. by 37.1% during the first quarter. Natixis Advisors L.P. now owns 27,259 shares of the bank’s stock worth $339,000 after purchasing an additional 7,373 shares during the period. Finally, Bank of Montreal Can boosted its holdings in F.N.B. by 3.9% during the first quarter. Bank of Montreal Can now owns 47,930 shares of the bank’s stock valued at $614,000 after purchasing an additional 1,783 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at F.N.B.

In related news, Director William B. Campbell acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $13.41 per share, for a total transaction of $33,525.00. Following the completion of the acquisition, the director now owns 145,388 shares of the company’s stock, valued at approximately $1,949,653.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $13.05 on Friday. The firm has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $12.68. F.N.B. Co. has a fifty-two week low of $10.09 and a fifty-two week high of $14.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market cap of $4.69 billion, a P/E ratio of 9.89, a P/E/G ratio of 9.04 and a beta of 1.02.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $337.11 million for the quarter, compared to analysts’ expectations of $403.84 million. F.N.B. had a return on equity of 9.98% and a net margin of 21.77%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Sell-side analysts predict that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 3.68%. F.N.B.’s dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FNB. Wells Fargo & Company increased their price objective on F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America began coverage on shares of F.N.B. in a research report on Thursday, January 11th. They issued a “buy” rating and a $15.00 price target on the stock. Raymond James raised their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, StockNews.com cut shares of F.N.B. from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, F.N.B. presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

F.N.B. Profile

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.