Wellington Management Group LLP Raises Position in F.N.B. Corporation $FNB

Wellington Management Group LLP lifted its holdings in F.N.B. Corporation (NYSE:FNB) by 12.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,016 shares of the bank’s stock after purchasing an additional 146,571 shares during the quarter. Wellington Management Group LLP owned about 0.37% of F.N.B. worth $25,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock valued at $73,000 after buying an additional 720 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of F.N.B. by 66.8% during the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock worth $34,000 after acquiring an additional 820 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of F.N.B. by 9.7% during the second quarter. Versant Capital Management Inc now owns 11,861 shares of the bank’s stock worth $226,000 after acquiring an additional 1,044 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of F.N.B. by 61.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,602 shares of the bank’s stock worth $62,000 after acquiring an additional 1,369 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of F.N.B. by 1.8% during the second quarter. Captrust Financial Advisors now owns 87,304 shares of the bank’s stock valued at $1,273,000 after acquiring an additional 1,514 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of the stock in a transaction 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 transaction, the insider directly owned 144,283 shares of the company’s stock, valued at $2,777,447.75. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Guerrieri sold 19,000 shares of F.N.B. stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the sale, the insider owned 298,097 shares in the company, valued at approximately $5,523,737.41. This trade represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

F.N.B. Stock Up 1.2%

FNB opened at $18.70 on Friday. F.N.B. Corporation has a fifty-two week low of $14.45 and a fifty-two week high of $19.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92. The company has a fifty day moving average of $18.90 and a two-hundred day moving average of $17.95. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.19 and a beta of 0.84.

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

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.8%. F.N.B.’s dividend payout ratio is currently 30.95%.

Analyst Upgrades and Downgrades

FNB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Wells Fargo & Company upped their price target on shares of F.N.B. from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Truist Financial lowered their price target on F.N.B. from $21.00 to $20.50 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $20.90.

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.