Basswood Capital Management L.L.C. Has $37.06 Million Stake in F.N.B. Co. (NYSE:FNB)

Basswood Capital Management L.L.C. cut its position in shares of F.N.B. Co. (NYSE:FNBFree Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,691,350 shares of the bank’s stock after selling 76,464 shares during the quarter. F.N.B. accounts for 2.4% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 9th biggest holding. Basswood Capital Management L.L.C. owned approximately 0.75% of F.N.B. worth $37,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its stake in F.N.B. by 706.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,208,076 shares of the bank’s stock worth $16,635,000 after buying an additional 1,058,293 shares in the last quarter. First Trust Advisors LP increased its stake in F.N.B. by 3.4% in the fourth quarter. First Trust Advisors LP now owns 2,731,875 shares of the bank’s stock valued at $37,618,000 after acquiring an additional 90,365 shares during the period. Rafferty Asset Management LLC raised its position in F.N.B. by 61.3% in the fourth quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock worth $7,374,000 after purchasing an additional 203,429 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in F.N.B. by 16.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 48,564 shares of the bank’s stock worth $669,000 after purchasing an additional 6,865 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in F.N.B. during the fourth quarter valued at approximately $2,162,000. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Price Performance

Shares of FNB stock traded down $0.12 during trading hours on Friday, hitting $13.18. 1,672,553 shares of the company’s stock were exchanged, compared to its average volume of 1,428,962. F.N.B. Co. has a 52 week low of $10.24 and a 52 week high of $14.39. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 9.42 and a beta of 0.99. 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 stock’s 50-day moving average is $13.61 and its 200-day moving average is $13.41.

F.N.B. (NYSE:FNBGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. F.N.B. had a net margin of 19.73% and a return on equity of 9.51%. The firm had revenue of $406.87 million during the quarter, compared to analysts’ expectations of $406.96 million. During the same quarter last year, the company posted $0.40 EPS. As a group, research analysts forecast that F.N.B. Co. will post 1.4 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, June 6th. F.N.B.’s dividend payout ratio is 38.71%.

Analysts Set New Price Targets

Several equities analysts recently commented on FNB shares. Wells Fargo & Company raised their target price on F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Finally, Stephens dropped their target price on shares of F.N.B. from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Read Our Latest Analysis on FNB

Insider Buying and Selling at F.N.B.

In other news, Director William B. Campbell bought 2,500 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $13.48 per share, for a total transaction of $33,700.00. Following the completion of the transaction, the director now directly owns 149,458 shares in the company, valued at approximately $2,014,693.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.03% of the company’s stock.

About F.N.B.

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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