Connable Office Inc. Sells 933 Shares of F.N.B. Co. (NYSE:FNB)

Connable Office Inc. decreased its holdings in F.N.B. Co. (NYSE:FNB) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 28,894 shares of the bank’s stock after selling 933 shares during the quarter. Connable Office Inc.’s holdings in F.N.B. were worth $427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PL Capital Advisors LLC purchased a new position in shares of F.N.B. in the 4th quarter worth $308,616,000. Point72 Asset Management L.P. purchased a new position in shares of F.N.B. in the 3rd quarter worth $14,190,000. Assenagon Asset Management S.A. boosted its stake in shares of F.N.B. by 490.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank’s stock worth $13,741,000 after buying an additional 772,134 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of F.N.B. by 583.5% in the 4th quarter. Fisher Asset Management LLC now owns 666,990 shares of the bank’s stock worth $9,858,000 after buying an additional 569,409 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock worth $5,038,000 after buying an additional 316,515 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

Insider Activity

In other F.N.B. news, Director William B. Campbell acquired 3,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the transaction, the director now directly owns 158,834 shares of the company’s stock, valued at approximately $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

F.N.B. Price Performance

NYSE FNB opened at $14.83 on Friday. The business’s fifty day moving average is $15.18 and its 200 day moving average is $15.05. F.N.B. Co. has a fifty-two week low of $12.49 and a fifty-two week high of $17.70. The company has a market capitalization of $5.33 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.24%. F.N.B.’s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FNB. Piper Sandler dropped their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Raymond James raised their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DA Davidson lifted their target price on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.50.

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.