Nuveen Asset Management LLC Decreases Position in F.N.B. Co. (NYSE:FNB)

Nuveen Asset Management LLC decreased its position in F.N.B. Co. (NYSE:FNB) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 932,379 shares of the bank’s stock after selling 69,129 shares during the period. Nuveen Asset Management LLC owned about 0.26% of F.N.B. worth $13,781,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AlphaQuest LLC lifted its holdings in shares of F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,759 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of F.N.B. during the 4th quarter worth approximately $39,000. Sandy Spring Bank purchased a new stake in F.N.B. in the 4th quarter valued at approximately $67,000. R Squared Ltd acquired a new stake in F.N.B. during the 4th quarter valued at $69,000. Finally, Smartleaf Asset Management LLC grew its holdings in F.N.B. by 40.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,701 shares of the bank’s stock valued at $84,000 after buying an additional 1,631 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Trading Down 0.6%

Shares of FNB stock opened at $13.84 on Tuesday. The firm’s 50-day simple moving average is $13.24 and its 200-day simple moving average is $14.61. 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. Co. has a 1-year low of $10.88 and a 1-year high of $17.70. The firm has a market cap of $4.98 billion, a P/E ratio of 10.98, a PEG ratio of 3.60 and a beta of 0.88.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. The firm had revenue of $411.61 million during the quarter, compared to analyst estimates of $409.52 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, equities analysts forecast that F.N.B. Co. will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd will be issued a $0.12 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.47%. F.N.B.’s dividend payout ratio (DPR) is 38.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FNB shares. DA Davidson restated a “buy” rating and issued a $19.00 price objective on shares of F.N.B. in a research report on Thursday, April 17th. Keefe, Bruyette & Woods upgraded 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. Wells Fargo & Company lowered their price target on shares of F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Truist Financial assumed coverage on shares of F.N.B. in a research report on Tuesday, May 13th. They issued a “buy” rating and a $16.50 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, F.N.B. currently has a consensus rating of “Buy” and a consensus price target of $17.57.

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.