VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 71,500 F.N.B. Corporation $FNB

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of F.N.B. Corporation (NYSE:FNB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 71,500 shares of the bank’s stock, valued at approximately $1,364,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FNB. California State Teachers Retirement System lifted its stake in shares of F.N.B. by 1,631.6% in the 2nd quarter. California State Teachers Retirement System now owns 7,888,893 shares of the bank’s stock valued at $150,520,000 after purchasing an additional 7,433,302 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of F.N.B. by 77.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock worth $20,353,000 after purchasing an additional 660,387 shares during the period. Wellington Management Group LLP grew its stake in shares of F.N.B. by 12.5% during the second quarter. Wellington Management Group LLP now owns 1,318,016 shares of the bank’s stock worth $25,148,000 after purchasing an additional 146,571 shares during the period. Rhino Investment Partners Inc increased its holdings in F.N.B. by 47.8% in the first quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock valued at $20,188,000 after purchasing an additional 390,526 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after purchasing an additional 58,672 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Up 0.2%

NYSE:FNB opened at $18.30 on Friday. F.N.B. Corporation has a 1 year low of $14.45 and a 1 year high of $19.59. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.16 and a beta of 0.84. The stock has a 50-day moving average price of $18.82 and a two-hundred day moving average price of $17.95.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $463.00 million for the quarter, compared to analyst estimates 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 last year, the firm posted $0.36 earnings per share. As a group, equities analysts expect that F.N.B. Corporation will post 1.69 earnings per share for the current year.

F.N.B. Dividend Announcement

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

Insider Transactions at F.N.B.

In other F.N.B. news, 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 sale, the insider directly owned 144,283 shares in the company, valued at approximately $2,777,447.75. This trade represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FNB. Bank of America restated a “neutral” rating and set a $19.00 target price (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Monday, July 20th. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Truist Financial decreased their price objective on shares of F.N.B. from $21.00 to $20.50 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Wells Fargo & Company upped their target price 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. 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 an average rating of “Buy” and an average price target of $20.90.

F.N.B. Company Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It operates primarily through its banking subsidiary, First National Bank of Pennsylvania, which provides services to consumers, businesses, and institutional clients.

The company offers a broad range of banking products and services, including checking and savings accounts, consumer lending, residential and commercial real estate financing, business loans, treasury management, and wealth management.