Northern Trust Corp Decreases Stake in F.N.B. Corporation $FNB

Northern Trust Corp lowered its position in shares of F.N.B. Corporation (NYSE:FNB) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,101,022 shares of the bank’s stock after selling 32,213 shares during the quarter. Northern Trust Corp owned about 0.86% of F.N.B. worth $41,709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of F.N.B. by 70.3% during the 1st quarter. Brooklyn Investment Group now owns 4,751 shares of the bank’s stock worth $64,000 after purchasing an additional 1,962 shares during the period. Algert Global LLC grew its holdings in shares of F.N.B. by 135.2% during the 1st quarter. Algert Global LLC now owns 76,718 shares of the bank’s stock worth $1,032,000 after purchasing an additional 44,100 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of F.N.B. during the 1st quarter worth about $236,000. Neuberger Berman Group LLC grew its holdings in shares of F.N.B. by 5.7% during the 1st quarter. Neuberger Berman Group LLC now owns 35,123 shares of the bank’s stock worth $472,000 after purchasing an additional 1,889 shares during the period. Finally, AIA Group Ltd grew its holdings in shares of F.N.B. by 14.4% during the 1st quarter. AIA Group Ltd now owns 42,132 shares of the bank’s stock worth $567,000 after purchasing an additional 5,297 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analyst Ratings Changes

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

F.N.B. Stock Performance

Shares of FNB opened at $16.72 on Friday. The business’s 50 day moving average is $15.50 and its two-hundred day moving average is $14.31. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.96 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. (NYSE:FNB) last announced its earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.The company had revenue of $438.21 million for the quarter, compared to analyst estimates of $424.39 million. During the same period in the prior year, the company posted $0.34 EPS. Analysts forecast that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. F.N.B.’s dividend payout ratio is presently 37.50%.

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.