Arizona State Retirement System Sells 1,210 Shares of F.N.B. Corporation (NYSE:FNB)

Arizona State Retirement System cut its stake in F.N.B. Corporation (NYSE:FNB) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,144 shares of the bank’s stock after selling 1,210 shares during the quarter. Arizona State Retirement System’s holdings in F.N.B. were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FNB. OneDigital Investment Advisors LLC raised its position in F.N.B. by 19.5% during the first quarter. OneDigital Investment Advisors LLC now owns 18,938 shares of the bank’s stock valued at $255,000 after purchasing an additional 3,086 shares in the last quarter. Teacher Retirement System of Texas raised its position in F.N.B. by 4.8% in the first 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 period. Prudential Financial Inc. raised its position in F.N.B. by 51.1% in the fourth quarter. Prudential Financial Inc. now owns 112,920 shares of the bank’s stock worth $1,669,000 after acquiring an additional 38,180 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in F.N.B. by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,438 shares of the bank’s stock worth $571,000 after acquiring an additional 2,983 shares during the period. Finally, AA Financial Advisors LLC bought a new position in F.N.B. in the first quarter worth approximately $269,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Trading Up 1.3%

FNB stock opened at $16.08 on Friday. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $17.70. The firm has a market cap of $5.79 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.96 and a beta of 0.92. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $14.53 and its 200-day moving average is $14.23.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $438.21 million during the quarter, compared to analysts’ expectations of $424.39 million. F.N.B. had a return on equity of 8.00% and a net margin of 17.88%. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, June 2nd. F.N.B.’s dividend payout ratio is 37.50%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of F.N.B. from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Friday, July 11th. DA Davidson reiterated a “buy” rating and set a $19.00 price objective on shares of F.N.B. in a 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 price objective for the company in a report on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.