Cardinal Capital Management Boosts Position in F.N.B. Co. (NYSE:FNB)

Cardinal Capital Management increased its holdings in shares of F.N.B. Co. (NYSE:FNB) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,518 shares of the bank’s stock after purchasing an additional 12,871 shares during the quarter. Cardinal Capital Management’s holdings in F.N.B. were worth $1,884,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FNB. Vanguard Group Inc. lifted its stake in F.N.B. by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 39,346,808 shares of the bank’s stock worth $541,806,000 after purchasing an additional 156,120 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in F.N.B. by 1.6% during the first quarter. Los Angeles Capital Management LLC now owns 82,458 shares of the bank’s stock worth $1,163,000 after purchasing an additional 1,304 shares during the last quarter. Alaska Permanent Fund Corp lifted its stake in F.N.B. by 0.5% during the first quarter. Alaska Permanent Fund Corp now owns 195,731 shares of the bank’s stock worth $2,760,000 after purchasing an additional 1,050 shares during the last quarter. Fulton Bank N.A. purchased a new stake in F.N.B. during the first quarter worth approximately $226,000. Finally, Congress Asset Management Co. MA lifted its stake in F.N.B. by 1.3% in the first quarter. Congress Asset Management Co. MA now owns 166,182 shares of the bank’s stock valued at $2,343,000 after buying an additional 2,110 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FNB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a report on Wednesday, June 26th. StockNews.com downgraded F.N.B. from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Stephens reissued an “overweight” rating and issued a $16.00 price objective on shares of F.N.B. in a report on Thursday, July 18th. Finally, Piper Sandler increased their price objective on F.N.B. from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

F.N.B. Price Performance

Shares of NYSE FNB opened at $14.86 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a fifty day moving average price of $14.15 and a 200 day moving average price of $13.89. F.N.B. Co. has a 1-year low of $10.24 and a 1-year high of $15.65. The company has a market cap of $5.34 billion, a PE ratio of 11.98, a P/E/G ratio of 10.01 and a beta of 0.96.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). F.N.B. had a return on equity of 9.04% and a net margin of 18.27%. The company had revenue of $403.81 million for the quarter, compared to analyst estimates of $408.14 million. During the same period in the prior year, the business earned $0.39 earnings per share. F.N.B.’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that F.N.B. Co. will post 1.38 EPS for the current year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Thursday, September 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, September 5th. F.N.B.’s dividend payout ratio is presently 38.71%.

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.