Ethic Inc. Lowers Position in F.N.B. Corporation $FNB

Ethic Inc. lessened its holdings in F.N.B. Corporation (NYSE:FNB) by 25.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,231 shares of the bank’s stock after selling 17,118 shares during the period. Ethic Inc.’s holdings in F.N.B. were worth $674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FNB. McClarren Financial Advisors Inc. purchased a new stake in F.N.B. during the first quarter valued at about $28,000. Parallel Advisors LLC grew its stake in shares of F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after buying an additional 995 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of F.N.B. during the first quarter valued at about $42,000. Meeder Asset Management Inc. grew its stake in shares of F.N.B. by 233.5% during the first quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank’s stock valued at $46,000 after buying an additional 2,412 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of F.N.B. during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Trading Up 0.6%

Shares of FNB stock opened at $15.9150 on Thursday. F.N.B. Corporation has a 1 year low of $10.88 and a 1 year high of $17.70. The firm has a fifty day moving average price of $15.18 and a 200-day moving average price of $14.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.90 and a beta of 0.94.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $424.39 million. During the same quarter in the prior year, the business posted $0.34 EPS. As a group, equities analysts predict 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 will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.0%. F.N.B.’s dividend payout ratio (DPR) is presently 37.50%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FNB. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.50 target price (up from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. DA Davidson raised their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Wells Fargo & Company lifted their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Finally, Truist Financial boosted their price objective on shares of F.N.B. from $17.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, F.N.B. currently has a consensus rating of “Buy” and an average target price 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.