Ameriprise Financial Inc. Sells 849,856 Shares of F.N.B. Co. (NYSE:FNB)

Ameriprise Financial Inc. cut its stake in F.N.B. Co. (NYSE:FNB) by 66.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,620 shares of the bank’s stock after selling 849,856 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.12% of F.N.B. worth $6,246,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FNB. Barclays PLC raised its position in shares of F.N.B. by 4.6% in the third quarter. Barclays PLC now owns 449,839 shares of the bank’s stock valued at $6,348,000 after purchasing an additional 19,589 shares during the period. HB Wealth Management LLC bought a new position in F.N.B. during the fourth quarter worth about $174,000. KBC Group NV increased its position in F.N.B. by 1,164.9% during the fourth quarter. KBC Group NV now owns 286,765 shares of the bank’s stock worth $4,238,000 after acquiring an additional 264,094 shares during the period. Pacer Advisors Inc. increased its position in F.N.B. by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 53,598 shares of the bank’s stock worth $792,000 after acquiring an additional 1,122 shares during the period. Finally, R Squared Ltd bought a new position in F.N.B. during the fourth quarter worth about $69,000. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

FNB stock opened at $13.84 on Friday. The company has a 50 day simple moving average of $13.24 and a 200 day simple moving average of $14.65. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 3.60 and a beta of 0.88. F.N.B. Co. has a 1 year low of $10.88 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during the quarter, compared to analysts’ expectations of $409.52 million. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. During the same period in the prior year, the company earned $0.34 EPS. Research analysts anticipate that F.N.B. Co. will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, June 2nd. F.N.B.’s dividend payout ratio (DPR) is currently 38.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial assumed coverage on shares of F.N.B. in a research report on Tuesday, May 13th. They set a “buy” rating and a $16.50 price target on the stock. DA Davidson reissued a “buy” rating and issued a $19.00 target price on shares of F.N.B. in a report on Thursday, April 17th. Keefe, Bruyette & Woods raised shares of F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 target price on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company decreased their target price on shares of F.N.B. from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.57.

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.