F.N.B. Co. (NYSE:FNB) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 464,332 shares of the bank’s stock after selling 3,844 shares during the quarter. Meritage Portfolio Management owned about 0.13% of F.N.B. worth $6,394,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of F.N.B. by 6.6% in the third quarter. FMR LLC now owns 13,266,361 shares of the bank’s stock valued at $143,144,000 after purchasing an additional 822,023 shares during the period. American Century Companies Inc. raised its position in F.N.B. by 5.9% in the 3rd quarter. American Century Companies Inc. now owns 12,474,225 shares of the bank’s stock valued at $134,597,000 after purchasing an additional 694,059 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of F.N.B. by 20.3% during the third quarter. Wellington Management Group LLP now owns 2,449,816 shares of the bank’s stock worth $26,434,000 after buying an additional 413,698 shares during the period. Sei Investments Co. raised its holdings in F.N.B. by 3.9% in the third quarter. Sei Investments Co. now owns 1,230,885 shares of the bank’s stock valued at $13,281,000 after acquiring an additional 45,834 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in F.N.B. by 1.5% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,173,913 shares of the bank’s stock worth $16,165,000 after acquiring an additional 17,363 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Insider Activity at F.N.B.

In other F.N.B. news, Director William B. Campbell bought 2,500 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was bought at an average price of $13.48 per share, for a total transaction of $33,700.00. Following the completion of the transaction, the director now owns 149,458 shares in the company, valued at approximately $2,014,693.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 6,500 shares of company stock valued at $87,505. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FNB shares. Wells Fargo & Company lifted their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. StockNews.com downgraded F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Bank of America began coverage on F.N.B. in a research note on Thursday, January 11th. They set a “buy” rating and a $15.00 price objective for the company. Raymond James lifted their target price on F.N.B. from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, Stephens lowered their price objective on shares of F.N.B. from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

F.N.B. Price Performance

Shares of FNB traded up $0.24 during trading hours on Friday, reaching $13.86. The company had a trading volume of 2,595,062 shares, compared to its average volume of 2,144,290. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $13.48 and a 200-day simple moving average of $12.82. F.N.B. Co. has a 12-month low of $10.09 and a 12-month high of $14.19. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 9.63 and a beta of 1.02.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. F.N.B. had a return on equity of 9.51% and a net margin of 19.73%. The business had revenue of $406.87 million for the quarter, compared to analyst estimates of $406.96 million. During the same quarter in the previous year, the company earned $0.40 EPS. Research analysts expect that F.N.B. Co. will post 1.42 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, March 5th. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

About F.N.B.

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.