Retirement Systems of Alabama Increases Stock Position in F.N.B. Co. (NYSE:FNB)

Retirement Systems of Alabama grew its stake in shares of F.N.B. Co. (NYSE:FNB) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,256,013 shares of the bank’s stock after buying an additional 1,385 shares during the period. Retirement Systems of Alabama’s holdings in F.N.B. were worth $17,295,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of F.N.B. by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,449,816 shares of the bank’s stock valued at $26,434,000 after buying an additional 413,698 shares during the period. Federated Hermes Inc. lifted its holdings in shares of F.N.B. by 31.0% during the 4th quarter. Federated Hermes Inc. now owns 378,727 shares of the bank’s stock valued at $5,215,000 after acquiring an additional 89,637 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of F.N.B. by 479.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,574 shares of the bank’s stock valued at $1,215,000 after acquiring an additional 93,159 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of F.N.B. by 663.2% during the 3rd quarter. Hsbc Holdings PLC now owns 233,439 shares of the bank’s stock valued at $2,523,000 after acquiring an additional 202,853 shares in the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of F.N.B. by 1.6% during the 4th quarter. Cardinal Capital Management now owns 100,537 shares of the bank’s stock valued at $1,384,000 after acquiring an additional 1,627 shares in the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Stock Performance

Shares of FNB stock opened at $13.35 on Wednesday. F.N.B. Co. has a 12 month low of $10.09 and a 12 month high of $14.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $4.80 billion, a P/E ratio of 10.77, a P/E/G ratio of 9.55 and a beta of 1.02. The company’s fifty day moving average price is $13.49 and its two-hundred day moving average price is $12.89.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, April 18th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $406.87 million during the quarter, compared to the consensus estimate of $406.96 million. F.N.B. had a net margin of 19.73% and a return on equity of 9.51%. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, research analysts anticipate that F.N.B. Co. will post 1.42 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Tuesday, March 5th. F.N.B.’s dividend payout ratio is presently 38.71%.

Insider Activity at F.N.B.

In other F.N.B. news, Director William B. Campbell acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $13.48 per share, with a total value of $33,700.00. Following the transaction, the director now directly owns 149,458 shares in the company, valued at $2,014,693.84. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 6,500 shares of company stock valued at $87,505 in the last quarter. Insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FNB. StockNews.com lowered shares of F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Bank of America initiated coverage on shares of F.N.B. in a report on Thursday, January 11th. They set a “buy” rating and a $15.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Raymond James boosted their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Stephens cut their price objective on shares of F.N.B. from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, F.N.B. currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

About F.N.B.

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.