PNC Financial Services Group Inc. Decreases Stake in F.N.B. Co. (NYSE:FNB)

PNC Financial Services Group Inc. decreased its stake in shares of F.N.B. Co. (NYSE:FNB) by 33.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,128 shares of the bank’s stock after selling 37,780 shares during the quarter. PNC Financial Services Group Inc.’s holdings in F.N.B. were worth $1,096,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FNB. Assetmark Inc. lifted its position in shares of F.N.B. by 23.9% during the third quarter. Assetmark Inc. now owns 13,117 shares of the bank’s stock worth $185,000 after purchasing an additional 2,527 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of F.N.B. during the third quarter worth about $447,000. Signature Estate & Investment Advisors LLC bought a new position in shares of F.N.B. during the third quarter worth about $326,000. Natixis Advisors LLC lifted its position in shares of F.N.B. by 4.0% during the third quarter. Natixis Advisors LLC now owns 66,705 shares of the bank’s stock worth $941,000 after purchasing an additional 2,591 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP bought a new position in shares of F.N.B. during the third quarter worth about $251,000. Institutional investors own 79.25% of the company’s stock.

Analyst Ratings Changes

FNB has been the topic of several research reports. Raymond James increased their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods increased their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler dropped their price objective on shares of 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. Finally, DA Davidson increased their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Insider Activity at F.N.B.

In related news, Director William B. Campbell acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the purchase, the director now directly owns 158,834 shares of the company’s stock, valued at $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, Director David L. Motley sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the transaction, the director now owns 65,344 shares in the company, valued at $1,013,485.44. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

F.N.B. Price Performance

Shares of NYSE:FNB opened at $13.46 on Monday. The firm’s 50 day moving average is $14.94 and its two-hundred day moving average is $15.02. F.N.B. Co. has a 52 week low of $12.49 and a 52 week high of $17.70. The firm has a market capitalization of $4.84 billion, a P/E ratio of 10.68, a PEG ratio of 3.60 and a beta of 0.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were paid a dividend of $0.12 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.57%. F.N.B.’s dividend payout ratio is presently 38.10%.

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.