New York State Common Retirement Fund Lowers Position in F.N.B. Co. (NYSE:FNB)

New York State Common Retirement Fund cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,038 shares of the bank’s stock after selling 36,306 shares during the quarter. New York State Common Retirement Fund’s holdings in F.N.B. were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Command Advisory Services Inc. purchased a new position in shares of F.N.B. during the 3rd quarter worth $27,000. Clearstead Advisors LLC purchased a new position in shares of F.N.B. during the 3rd quarter worth $36,000. Blue Trust Inc. boosted its holdings in F.N.B. by 56.2% during the 4th quarter. Blue Trust Inc. now owns 7,099 shares of the bank’s stock valued at $98,000 after acquiring an additional 2,553 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in F.N.B. during the 3rd quarter valued at about $109,000. Finally, Anchor Investment Management LLC purchased a new position in F.N.B. during the 4th quarter valued at about $110,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Price Performance

FNB stock opened at $13.79 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $4.96 billion, a P/E ratio of 11.12, a P/E/G ratio of 9.66 and a beta of 1.00. The business’s 50-day moving average is $13.50 and its two-hundred day moving average is $12.94. F.N.B. Co. has a 1 year low of $10.09 and a 1 year high of $14.19.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $406.87 million for the quarter, compared to analyst estimates of $406.96 million. F.N.B. had a return on equity of 9.51% and a net margin of 19.73%. During the same quarter last year, the company earned $0.40 EPS. Analysts anticipate that F.N.B. Co. will post 1.41 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, June 6th. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

Insider Transactions at F.N.B.

In other F.N.B. news, Director William B. Campbell bought 2,500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $13.41 per share, with a total value of $33,525.00. Following the transaction, the director now owns 145,388 shares of the company’s stock, valued at $1,949,653.08. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 6,500 shares of company stock valued at $87,505. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James raised their target price on F.N.B. from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Stephens lowered their target price on F.N.B. from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Wells Fargo & Company raised their target price on F.N.B. from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. StockNews.com cut F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Bank of America began coverage on F.N.B. in a report on Thursday, January 11th. They set a “buy” rating and a $15.00 target price for the company. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

F.N.B. Company 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.