Short Interest in F.N.B. Corporation (NYSE:FNB) Declines By 42.1%

F.N.B. Corporation (NYSE:FNB) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 7,870,000 shares, adeclineof42.1% from the July 15th total of 13,600,000 shares. Approximately2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,990,000 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 3,990,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately2.2% of the company’s stock are sold short.

F.N.B. Stock Up 0.0%

FNB stock opened at $15.8250 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The company has a fifty day moving average price of $15.14 and a 200 day moving average price of $14.27. F.N.B. has a 12 month low of $10.88 and a 12 month high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $438.21 million for the quarter, compared to analysts’ expectations of $424.39 million. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. During the same period in the previous year, the company posted $0.34 EPS. Sell-side analysts expect that F.N.B. will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.’s payout ratio is currently 37.50%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FNB. Wells Fargo & Company boosted their price objective on shares of F.N.B. from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.50 price target (up previously from $16.50) on shares of F.N.B. in a research report on Monday, July 21st. Truist Financial upped their price target on shares of F.N.B. from $17.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Finally, DA Davidson upped their price target on shares of F.N.B. from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, F.N.B. currently has a consensus rating of “Buy” and an average price target of $18.64.

Hedge Funds Weigh In On F.N.B.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in F.N.B. by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank’s stock valued at $531,694,000 after buying an additional 114,672 shares during the period. First Trust Advisors LP increased its stake in F.N.B. by 76.8% in the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank’s stock valued at $77,349,000 after buying an additional 2,273,736 shares during the period. Northern Trust Corp increased its stake in F.N.B. by 26.4% in the 4th quarter. Northern Trust Corp now owns 3,133,235 shares of the bank’s stock valued at $46,309,000 after buying an additional 655,383 shares during the period. AQR Capital Management LLC increased its stake in F.N.B. by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank’s stock valued at $25,204,000 after buying an additional 505,780 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of F.N.B. by 77.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock worth $20,353,000 after purchasing an additional 660,387 shares during the period. 79.25% of the stock is owned by institutional investors and hedge funds.

F.N.B. Company 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.