Citigroup Inc. Decreases Stock Position in F.N.B. Co. (NYSE:FNB)

Citigroup Inc. cut its stake in F.N.B. Co. (NYSE:FNB) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 351,288 shares of the bank’s stock after selling 139,417 shares during the quarter. Citigroup Inc. owned about 0.10% of F.N.B. worth $4,957,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FNB. Kathleen S. Wright Associates Inc. bought a new position in shares of F.N.B. in the 3rd quarter worth $28,000. Richardson Financial Services Inc. raised its stake in shares of F.N.B. by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,473 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of F.N.B. by 113.8% during the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,764 shares in the last quarter. UMB Bank n.a. grew its position in shares of F.N.B. by 82.3% in the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after buying an additional 1,665 shares during the period. Finally, Signaturefd LLC increased its stake in F.N.B. by 16.7% during the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock valued at $79,000 after purchasing an additional 799 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

F.N.B. Stock Performance

Shares of FNB stock opened at $16.84 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. F.N.B. Co. has a 1 year low of $12.28 and a 1 year high of $17.70. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 15.63 and a beta of 0.95. The business has a fifty day moving average of $15.10 and a 200 day moving average of $14.38.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The firm had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. As a group, research analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.85%. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Analyst Upgrades and Downgrades

FNB has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Raymond James upped their price target on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Stephens upped their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.83.

About F.N.B.

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.