Zacks Investment Management Buys 8,959 Shares of F.N.B. Co. (NYSE:FNB)

Zacks Investment Management raised its stake in F.N.B. Co. (NYSE:FNB) by 22.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,669 shares of the bank’s stock after acquiring an additional 8,959 shares during the quarter. Zacks Investment Management’s holdings in F.N.B. were worth $701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Diversified Trust Co lifted its holdings in shares of F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock worth $231,000 after acquiring an additional 789 shares during the last quarter. Signaturefd LLC raised its holdings in F.N.B. by 16.7% in the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock valued at $79,000 after buying an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in F.N.B. by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock valued at $480,000 after buying an additional 836 shares during the last quarter. Hancock Whitney Corp raised its holdings in F.N.B. by 0.8% in the 3rd quarter. Hancock Whitney Corp now owns 121,945 shares of the bank’s stock valued at $1,721,000 after buying an additional 947 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in F.N.B. by 2.2% in the 2nd quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock valued at $653,000 after buying an additional 1,040 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

Insider Transactions at F.N.B.

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens raised their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Raymond James raised their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on shares of F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

F.N.B. Stock Performance

NYSE FNB opened at $16.16 on Wednesday. The company has a fifty day simple moving average of $15.47 and a 200 day simple moving average of $14.51. F.N.B. Co. has a 12-month low of $12.49 and a 12-month high of $17.70. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $5.81 billion, a P/E ratio of 14.83 and a beta of 0.99.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The company had revenue of $413.02 million for the quarter, compared to the consensus estimate of $409.80 million. Sell-side analysts predict that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s payout ratio is 44.04%.

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.