KLP Kapitalforvaltning AS Purchases 5,100 Shares of F.N.B. Corporation $FNB

KLP Kapitalforvaltning AS lifted its position in F.N.B. Corporation (NYSE:FNB) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,900 shares of the bank’s stock after purchasing an additional 5,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in F.N.B. were worth $1,092,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of F.N.B. by 22.8% in the second quarter. Parallel Advisors LLC now owns 3,802 shares of the bank’s stock worth $55,000 after purchasing an additional 706 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of F.N.B. by 3.2% in the first quarter. Verdence Capital Advisors LLC now owns 25,489 shares of the bank’s stock worth $343,000 after purchasing an additional 783 shares during the last quarter. LPL Financial LLC increased its holdings in shares of F.N.B. by 0.4% in the first quarter. LPL Financial LLC now owns 224,171 shares of the bank’s stock worth $3,015,000 after purchasing an additional 886 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of F.N.B. by 0.3% in the first quarter. Federated Hermes Inc. now owns 315,585 shares of the bank’s stock worth $4,245,000 after purchasing an additional 892 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of F.N.B. by 1.1% in the first quarter. State of Michigan Retirement System now owns 86,051 shares of the bank’s stock worth $1,157,000 after purchasing an additional 900 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

F.N.B. Stock Up 3.2%

Shares of NYSE:FNB opened at $16.12 on Wednesday. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70. The business has a 50 day simple moving average of $16.10 and a two-hundred day simple moving average of $14.77. The firm has a market capitalization of $5.79 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share (EPS) for the quarter. The business had revenue of $419.30 million during the quarter. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%. On average, equities analysts predict that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.12 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.0%. F.N.B.’s payout ratio is presently 37.50%.

Wall Street Analysts Forecast Growth

FNB has been the topic of several analyst reports. Truist Financial boosted their price objective on F.N.B. from $17.50 to $18.00 and gave the stock a “buy” rating in a research note 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 note on Monday, July 21st. Wall Street Zen raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.50 price objective (up from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $18.64.

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.