Amalgamated Bank Sells 4,919 Shares of F.N.B. Corporation (NYSE:FNB)

Amalgamated Bank trimmed its stake in F.N.B. Corporation (NYSE:FNB) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,195 shares of the bank’s stock after selling 4,919 shares during the quarter. Amalgamated Bank’s holdings in F.N.B. were worth $2,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FNB. AlphaQuest LLC grew its stake in shares of F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock valued at $27,000 after buying an additional 1,759 shares during the period. Headlands Technologies LLC bought a new stake in shares of F.N.B. during the fourth quarter valued at approximately $39,000. Parallel Advisors LLC increased its holdings in shares of F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after acquiring an additional 995 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of F.N.B. in the 1st quarter worth $47,000. Finally, UMB Bank n.a. grew its position in F.N.B. by 34.5% in the 1st quarter. UMB Bank n.a. now owns 4,345 shares of the bank’s stock valued at $58,000 after purchasing an additional 1,115 shares during the period. 79.25% of the stock is owned by institutional investors.

F.N.B. Trading Up 1.6%

Shares of FNB stock opened at $15.58 on Friday. The business has a 50-day moving average price of $14.07 and a two-hundred day moving average price of $14.16. F.N.B. Corporation has a 12-month low of $10.88 and a 12-month high of $17.70. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.61 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.92.

F.N.B. (NYSE:FNB) last released its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. The company had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. During the same quarter in the previous year, the company posted $0.34 EPS. Equities analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, June 2nd. F.N.B.’s dividend payout ratio is currently 38.10%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial began coverage on shares of F.N.B. in a report on Tuesday, May 13th. They set a “buy” rating and a $16.50 price objective on the stock. Keefe, Bruyette & Woods upgraded F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price target for the company in a research note on Monday, April 21st. DA Davidson reissued a “buy” rating and issued a $19.00 price objective on shares of F.N.B. in a research note on Thursday, April 17th. Wells Fargo & Company dropped their target price on F.N.B. from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen cut shares of F.N.B. from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.57.

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.