Strs Ohio Makes New Investment in F.N.B. Corporation $FNB

Strs Ohio purchased a new stake in shares of F.N.B. Corporation (NYSE:FNB) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 139,248 shares of the bank’s stock, valued at approximately $1,873,000.

Other large investors have also recently added to or reduced their stakes in the company. Rhino Investment Partners Inc acquired a new position in F.N.B. in the first quarter valued at about $19,990,000. Goldman Sachs Group Inc. grew its stake in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after buying an additional 660,387 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of F.N.B. by 485.4% in the 1st quarter. Victory Capital Management Inc. now owns 748,816 shares of the bank’s stock valued at $10,072,000 after buying an additional 620,891 shares during the period. AQR Capital Management LLC lifted its stake in F.N.B. by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank’s stock worth $25,204,000 after acquiring an additional 505,780 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in F.N.B. by 175.9% during the 1st quarter. Hsbc Holdings PLC now owns 740,798 shares of the bank’s stock worth $9,935,000 after acquiring an additional 472,300 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

F.N.B. Trading Down 1.4%

Shares of F.N.B. stock opened at $16.02 on Wednesday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.91 and a beta of 0.98. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70. The company’s 50-day simple moving average is $15.91 and its 200-day simple moving average is $14.43. 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 released its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $438.21 million for the quarter, compared to analysts’ expectations of $424.39 million. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, equities research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. F.N.B.’s payout ratio is 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.