LSV Asset Management Sells 36,100 Shares of F.N.B. Corporation $FNB

LSV Asset Management lessened its stake in F.N.B. Corporation (NYSE:FNB) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,100 shares of the bank’s stock after selling 36,100 shares during the period. LSV Asset Management’s holdings in F.N.B. were worth $29,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNB. Jones Financial Companies Lllp grew its stake in F.N.B. by 45.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 10,868 shares of the bank’s stock worth $176,000 after acquiring an additional 3,400 shares in the last quarter. Tradewinds LLC. bought a new stake in shares of F.N.B. during the third quarter valued at approximately $1,444,000. Quent Capital LLC boosted its holdings in shares of F.N.B. by 10.2% in the third quarter. Quent Capital LLC now owns 11,089 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,030 shares during the period. Citizens Financial Group Inc. RI bought a new position in F.N.B. in the third quarter worth approximately $167,000. Finally, Longboard Asset Management LP purchased a new position in F.N.B. during the 3rd quarter worth $177,000. Institutional investors own 79.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Gary L. Guerrieri sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were 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 $4,945,532.61. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James L. Dutey sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 49,936 shares of the company’s stock, valued at approximately $836,428. This trade represents a 44.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

FNB has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. DA Davidson downgraded F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Truist Financial increased their target price on shares of F.N.B. from $19.00 to $19.50 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $21.00 target price (up previously from $20.00) on shares of F.N.B. in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, F.N.B. currently has an average rating of “Moderate Buy” and an average target price of $19.60.

F.N.B. Trading Up 1.0%

Shares of NYSE FNB opened at $18.07 on Friday. F.N.B. Corporation has a 1-year low of $10.88 and a 1-year high of $19.14. The business has a fifty day moving average price of $17.64 and a 200 day moving average price of $16.55. The stock has a market capitalization of $6.47 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.90.

F.N.B. (NYSE:FNB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $457.78 million for the quarter, compared to analyst estimates of $457.87 million. F.N.B. had a return on equity of 8.76% and a net margin of 20.98%.During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities research analysts expect that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, March 2nd. F.N.B.’s payout ratio is 30.77%.

F.N.B. 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.