Invesco Ltd. Reduces Position in F.N.B. Corporation $FNB

Invesco Ltd. trimmed its holdings in F.N.B. Corporation (NYSE:FNB) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,116,734 shares of the bank’s stock after selling 34,705 shares during the quarter. Invesco Ltd. owned about 0.31% of F.N.B. worth $15,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Balyasny Asset Management L.P. purchased a new stake in shares of F.N.B. during the 4th quarter valued at about $12,952,000. Northern Trust Corp lifted its position in F.N.B. by 26.4% during the fourth quarter. Northern Trust Corp now owns 3,133,235 shares of the bank’s stock valued at $46,309,000 after purchasing an additional 655,383 shares during the period. Victory Capital Management Inc. lifted its position in F.N.B. by 485.4% during the first quarter. Victory Capital Management Inc. now owns 748,816 shares of the bank’s stock valued at $10,072,000 after purchasing an additional 620,891 shares during the period. Squarepoint Ops LLC boosted its holdings in F.N.B. by 411.4% in the fourth quarter. Squarepoint Ops LLC now owns 495,373 shares of the bank’s stock worth $7,322,000 after purchasing an additional 398,501 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in F.N.B. by 185.0% in the 1st quarter. Congress Asset Management Co. now owns 479,760 shares of the bank’s stock worth $6,453,000 after purchasing an additional 311,416 shares during the period. Institutional investors own 79.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

F.N.B. Stock Up 4.2%

FNB stock opened at $16.5010 on Friday. The business’s 50-day moving average price is $15.27 and its 200-day moving average price is $14.29. The stock has a market cap of $5.93 billion, a P/E ratio of 12.89, a PEG ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. F.N.B. Corporation has a twelve month low of $10.88 and a twelve month high of $17.70.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. The company had revenue of $438.21 million for the quarter, compared to analysts’ expectations of $424.39 million. During the same quarter last year, the business earned $0.34 EPS. On average, equities research analysts forecast that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 37.50%.

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.