F.N.B. Corporation (NYSE:FNB) Sees Significant Decline in Short Interest

F.N.B. Corporation (NYSE:FNB) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 12,121,107 shares, a drop of 19.1% from the December 15th total of 14,980,411 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 3,876,163 shares, the short-interest ratio is presently 3.1 days. Based on an average daily trading volume, of 3,876,163 shares, the short-interest ratio is presently 3.1 days. Currently, 3.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, insider Gary L. Guerrieri sold 15,000 shares of F.N.B. stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total transaction of $265,050.00. Following the completion of the sale, the insider owned 279,883 shares of the company’s stock, valued at approximately $4,945,532.61. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James L. Dutey sold 40,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total transaction of $670,000.00. Following the completion of the transaction, the insider owned 49,936 shares in the company, valued at $836,428. This trade represents a 44.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F.N.B.

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in shares of F.N.B. in the third quarter valued at approximately $1,097,000. KLP Kapitalforvaltning AS grew its holdings in F.N.B. by 7.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 74,900 shares of the bank’s stock worth $1,092,000 after acquiring an additional 5,100 shares during the last quarter. Tradewinds LLC. acquired a new position in F.N.B. in the 3rd quarter valued at approximately $1,444,000. SG Americas Securities LLC increased its position in F.N.B. by 155.4% in the 2nd quarter. SG Americas Securities LLC now owns 60,478 shares of the bank’s stock valued at $882,000 after acquiring an additional 36,796 shares during the period. Finally, Stanley Laman Group Ltd. bought a new position in shares of F.N.B. during the second quarter valued at $3,440,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Price Performance

Shares of F.N.B. stock traded down $0.14 during midday trading on Tuesday, hitting $17.23. 5,914,581 shares of the company traded hands, compared to its average volume of 5,845,735. The firm’s fifty day moving average price is $16.99 and its 200-day moving average price is $16.27. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.83 and a beta of 0.91. F.N.B. has a 12 month low of $10.88 and a 12 month high of $17.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. F.N.B.’s payout ratio is presently 34.53%.

Analyst Ratings Changes

FNB has been the subject of a number of analyst reports. Piper Sandler started coverage on shares of F.N.B. in a research report on Wednesday, December 3rd. They issued an “overweight” rating and a $19.00 price target for the company. DA Davidson cut F.N.B. from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Truist Financial set a $19.00 price objective on shares of F.N.B. in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, F.N.B. presently has a consensus rating of “Moderate Buy” and an average price target of $19.10.

F.N.B. Company Profile

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.