Teacher Retirement System of Texas Raises Position in F.N.B. Corporation (NYSE:FNB)

Teacher Retirement System of Texas grew its holdings in shares of F.N.B. Corporation (NYSE:FNB) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,338 shares of the bank’s stock after purchasing an additional 4,078 shares during the quarter. Teacher Retirement System of Texas’ holdings in F.N.B. were worth $1,188,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FNB. AlphaQuest LLC raised its position 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 worth $27,000 after buying an additional 1,759 shares during the period. Headlands Technologies LLC purchased a new position in shares of F.N.B. in the 4th quarter worth $39,000. Parallel Advisors LLC raised its position in shares of F.N.B. by 47.4% in the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock worth $42,000 after buying an additional 995 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in shares of F.N.B. in the 1st quarter worth $42,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of F.N.B. in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Trading Down 1.1%

NYSE:FNB opened at $15.83 on Friday. The business’s 50-day moving average is $14.31 and its two-hundred day moving average is $14.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.92. F.N.B. Corporation has a 12 month low of $10.88 and a 12 month high of $17.70. The firm has a market capitalization of $5.69 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.13 and a beta of 0.92.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $409.52 million. During the same period last year, the company posted $0.34 earnings per share. Research analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, June 2nd. F.N.B.’s dividend payout ratio (DPR) is 38.10%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FNB shares. Wall Street Zen raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial increased their target price on F.N.B. from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. Wells Fargo & Company increased their target price on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price objective on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.00.

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.