F.N.B. Corporation $FNB Stock: Retirement Systems of Alabama Lowers Stake

Retirement Systems of Alabama cut its stake in F.N.B. Corporation (NYSE:FNB) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,126,021 shares of the bank’s stock after selling 48,747 shares during the period. Retirement Systems of Alabama’s holdings in F.N.B. were worth $19,379,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FNB. Wellington Management Group LLP lifted its stake in F.N.B. by 12.5% in the second quarter. Wellington Management Group LLP now owns 1,318,016 shares of the bank’s stock valued at $25,148,000 after buying an additional 146,571 shares during the last quarter. Rhino Investment Partners Inc grew its position in shares of F.N.B. by 47.8% during the first quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock worth $20,188,000 after acquiring an additional 390,526 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of F.N.B. by 758.2% during the third quarter. Assenagon Asset Management S.A. now owns 922,134 shares of the bank’s stock worth $15,870,000 after acquiring an additional 814,690 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of F.N.B. by 0.3% in the 2nd quarter. HighTower Advisors LLC now owns 620,845 shares of the bank’s stock worth $11,846,000 after acquiring an additional 1,657 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of F.N.B. by 5.5% in the 2nd quarter. Hsbc Holdings PLC now owns 482,010 shares of the bank’s stock worth $9,233,000 after acquiring an additional 25,141 shares during the period. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Stock Down 0.2%

Shares of FNB stock opened at $18.20 on Thursday. F.N.B. Corporation has a 1 year low of $15.21 and a 1 year high of $19.59. The stock has a market cap of $6.39 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The business’s fifty day moving average is $17.82 and its 200-day moving average is $17.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.91.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Tuesday, October 20th. The bank reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $469.00 million during the quarter, compared to analyst estimates of $476.20 million. F.N.B. had a return on equity of 9.12% and a net margin of 22.46%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Equities analysts expect that F.N.B. Corporation will post 1.69 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 1st. F.N.B.’s payout ratio is presently 30.59%.

Analyst Ratings Changes

FNB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of F.N.B. from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 29th. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a report on Monday, July 20th. Truist Financial cut their price target on F.N.B. from $20.50 to $19.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Wall Street Zen upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, UBS Group began coverage on F.N.B. in a report on Monday, September 14th. They issued a “neutral” rating and a $20.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.29.

F.N.B. Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, First National Bank of Pennsylvania, it provides consumer and commercial banking, wealth management, insurance, and other financial services. The company serves individuals, businesses, and organizations across Pennsylvania, Ohio, Maryland, West Virginia, Virginia, North Carolina, and South Carolina, as well as the Washington, D.C., area. Its offerings include deposit accounts, lending, treasury and payment services, investment and trust services, and insurance solutions.