M&T Bank Corp Increases Position in F.N.B. Corporation (NYSE:FNB)

M&T Bank Corp grew its holdings in F.N.B. Corporation (NYSE:FNB) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,570 shares of the bank’s stock after purchasing an additional 2,946 shares during the quarter. M&T Bank Corp’s holdings in F.N.B. were worth $384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of F.N.B. by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 158,609 shares of the bank’s stock valued at $2,133,000 after purchasing an additional 1,569 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in F.N.B. by 19.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 18,938 shares of the bank’s stock valued at $255,000 after buying an additional 3,086 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of F.N.B. by 4.8% in the 1st quarter. Teacher Retirement System of Texas now owns 88,338 shares of the bank’s stock worth $1,188,000 after acquiring an additional 4,078 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of F.N.B. during the 1st quarter worth $42,000. Finally, Econ Financial Services Corp purchased a new position in shares of F.N.B. during the 1st quarter worth $1,008,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Stock Up 0.9%

F.N.B. stock opened at $15.51 on Thursday. The company has a market capitalization of $5.58 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Corporation has a fifty-two week low of $10.88 and a fifty-two week high of $17.70. The firm has a 50 day moving average price of $14.44 and a 200 day moving average price of $14.22.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.32 earnings per share for the quarter, beating 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 return on equity of 7.97% and a net margin of 17.78%. During the same period in the previous year, the firm posted $0.34 earnings per share. Research analysts expect that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, June 2nd. F.N.B.’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

FNB has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday. Keefe, Bruyette & Woods raised shares of 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. Wells Fargo & Company lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Truist Financial increased their price objective on F.N.B. from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, DA Davidson restated a “buy” rating and issued a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, F.N.B. presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.