Handelsbanken Fonder AB Buys 33,400 Shares of F.N.B. Corporation $FNB

Handelsbanken Fonder AB increased its stake in shares of F.N.B. Corporation (NYSE:FNB) by 35.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,431 shares of the bank’s stock after buying an additional 33,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in F.N.B. were worth $2,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FNB. Goldman Sachs Group Inc. raised its holdings in F.N.B. by 77.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after acquiring an additional 660,387 shares in the last quarter. Rhino Investment Partners Inc grew its holdings in shares of F.N.B. by 47.8% during the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock worth $20,188,000 after purchasing an additional 390,526 shares in the last quarter. SG Americas Securities LLC increased its position in shares of F.N.B. by 585.2% in the first quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock worth $5,990,000 after purchasing an additional 305,961 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of F.N.B. in the first quarter worth $3,381,000. Finally, BNP Paribas Financial Markets increased its position in shares of F.N.B. by 454.4% in the third quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock worth $3,550,000 after purchasing an additional 180,610 shares during the period. Institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FNB shares. Bank of America reiterated a “neutral” rating and set a $19.00 price objective (down from $20.00) on shares of F.N.B. in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Wells Fargo & Company increased their price target on shares of F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Truist Financial decreased their price objective on shares of F.N.B. from $21.00 to $20.50 and set a “buy” rating on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.90.

Insider Buying and Selling

In related news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the completion of the transaction, the insider owned 298,097 shares of the company’s stock, valued at $5,523,737.41. This represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryant Mitchell David sold 4,055 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $19.25, for a total transaction of $78,058.75. Following the completion of the sale, the insider owned 144,283 shares in the company, valued at $2,777,447.75. This represents a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.

F.N.B. Stock Performance

NYSE:FNB opened at $19.46 on Monday. F.N.B. Corporation has a twelve month low of $14.45 and a twelve month high of $19.59. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The stock’s 50-day simple moving average is $18.86 and its 200 day simple moving average is $17.90. The firm has a market capitalization of $6.87 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.24 and a beta of 0.85.

F.N.B. (NYSE:FNB) last issued its earnings results on Friday, July 17th. The bank reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $463.00 million during the quarter, compared to the consensus estimate of $467.13 million. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, analysts anticipate that F.N.B. Corporation will post 1.69 EPS for the current fiscal year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, September 1st. F.N.B.’s dividend payout ratio is currently 30.95%.

About F.N.B.

F.N.B. Corporation is a bank holding company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, FNB Bank, the company provides a broad range of commercial and consumer financial services. Founded in 1864 as the First National Bank of Pennsylvania, F.N.B. has grown through both organic expansion and strategic acquisitions to become a regional banking franchise.

The company’s main business activities include traditional deposit-taking and lending services, such as checking and savings accounts, mortgages, home equity lines of credit, and consumer and commercial loans.