Wealthfront Advisers LLC Takes Position in F.N.B. Co. (NYSE:FNB)

Wealthfront Advisers LLC bought a new stake in F.N.B. Co. (NYSE:FNB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,100 shares of the bank’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PL Capital Advisors LLC purchased a new position in shares of F.N.B. in the fourth quarter valued at approximately $308,616,000. State Street Corp lifted its position in shares of F.N.B. by 1.9% in the third quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after acquiring an additional 278,825 shares in the last quarter. Principal Financial Group Inc. lifted its position in F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock worth $69,879,000 after buying an additional 127,516 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in F.N.B. by 2.8% during the third quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock worth $67,986,000 after buying an additional 130,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in F.N.B. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank’s stock worth $58,239,000 after buying an additional 51,862 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Insider Activity

In other news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares of the company’s stock, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William B. Campbell bought 3,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the purchase, the director now directly owns 158,834 shares in the company, valued at $2,473,045.38. This represents a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

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

F.N.B. Price Performance

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

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were paid a $0.12 dividend. 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 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.