Basswood Capital Management L.L.C. Lowers Stock Holdings in F.N.B. Co. (NYSE:FNB)

Basswood Capital Management L.L.C. lessened its holdings in F.N.B. Co. (NYSE:FNB) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,140,865 shares of the bank’s stock after selling 35,848 shares during the quarter. F.N.B. makes up 1.6% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 21st largest position. Basswood Capital Management L.L.C.’s holdings in F.N.B. were worth $30,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in F.N.B. by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 166,292 shares of the bank’s stock valued at $2,345,000 after purchasing an additional 10,959 shares during the period. Cetera Investment Advisers raised its position in shares of F.N.B. by 48.2% during the first quarter. Cetera Investment Advisers now owns 128,089 shares of the bank’s stock valued at $1,806,000 after buying an additional 41,665 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of F.N.B. by 253.4% in the first quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock worth $1,311,000 after buying an additional 66,676 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of F.N.B. by 113.8% during the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after acquiring an additional 1,764 shares during the last quarter. Finally, Fulton Bank N.A. grew its stake in F.N.B. by 83.7% during the second quarter. Fulton Bank N.A. now owns 29,417 shares of the bank’s stock valued at $402,000 after acquiring an additional 13,405 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

F.N.B. Trading Down 0.1 %

Shares of NYSE FNB opened at $17.15 on Monday. F.N.B. Co. has a 1-year low of $11.89 and a 1-year high of $17.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The business’s 50 day moving average is $15.10 and its two-hundred day moving average is $14.38. The stock has a market capitalization of $6.17 billion, a P/E ratio of 15.73 and a beta of 0.95.

F.N.B. (NYSE:FNB) last released its earnings results 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). The company had revenue of $413.02 million for the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, research analysts expect that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 2.80%. F.N.B.’s payout ratio is 44.04%.

Wall Street Analyst Weigh In

FNB has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Raymond James increased their price target on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Stephens increased their target price on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.83.

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.