Zacks Investment Management Buys 8,959 Shares of F.N.B. Co. (NYSE:FNB)

Zacks Investment Management raised its stake in F.N.B. Co. (NYSE:FNB) by 22.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,669 shares of the bank’s stock after purchasing an additional 8,959 shares during the quarter. Zacks Investment Management’s holdings in F.N.B. were worth $701,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co grew its stake in F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock valued at $231,000 after purchasing an additional 789 shares in the last quarter. Signaturefd LLC increased its holdings in shares of F.N.B. by 16.7% during the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock worth $79,000 after acquiring an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of F.N.B. by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock worth $480,000 after acquiring an additional 836 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of F.N.B. by 0.8% during the 3rd quarter. Hancock Whitney Corp now owns 121,945 shares of the bank’s stock worth $1,721,000 after acquiring an additional 947 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in F.N.B. by 2.2% during the second quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock worth $653,000 after purchasing an additional 1,040 shares during the period. 79.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Raymond James upped their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Finally, Stephens upped their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

F.N.B. Trading Down 0.3 %

FNB stock opened at $16.16 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The company’s 50-day simple moving average is $15.47 and its 200 day simple moving average is $14.51. F.N.B. Co. has a 52 week low of $12.49 and a 52 week high of $17.70. The company has a market capitalization of $5.81 billion, a PE ratio of 14.83 and a beta of 0.99.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $413.02 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.97%. F.N.B.’s payout ratio is 44.04%.

Insiders Place Their Bets

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.