F.N.B. Co. (NYSE:FNB) Position Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its position in shares of F.N.B. Co. (NYSE:FNB) by 18.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,885 shares of the bank’s stock after selling 4,027 shares during the period. CIBC Private Wealth Group LLC’s holdings in F.N.B. were worth $262,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FNB. PL Capital Advisors LLC bought a new position in F.N.B. in the 4th quarter worth about $308,616,000. Norges Bank acquired a new position in shares of F.N.B. during the fourth quarter worth approximately $50,205,000. Raymond James Financial Inc. bought a new position in F.N.B. in the 4th quarter worth approximately $15,801,000. Assenagon Asset Management S.A. increased its position in 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 valued at $13,741,000 after acquiring an additional 772,134 shares during the period. Finally, Fisher Asset Management LLC raised its stake in F.N.B. by 583.5% during the 4th quarter. Fisher Asset Management LLC now owns 666,990 shares of the bank’s stock valued at $9,858,000 after acquiring an additional 569,409 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Insiders Place Their Bets

In related news, Director David L. Motley sold 15,000 shares of the 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 transaction, the director now owns 65,344 shares in the company, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William B. Campbell acquired 3,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the acquisition, the director now owns 158,834 shares in the company, valued at approximately $2,473,045.38. This trade represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. 1.03% of the stock is currently owned by company insiders.

F.N.B. Price Performance

Shares of NYSE FNB opened at $11.46 on Monday. F.N.B. Co. has a twelve month low of $10.93 and a twelve month high of $17.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $14.42 and a two-hundred day moving average of $14.92. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 3.60 and a beta of 0.86.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, March 3rd. F.N.B.’s payout ratio is 38.10%.

Wall Street Analyst Weigh In

FNB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Piper Sandler lowered their target price 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 upped their price target 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, F.N.B. has a consensus rating of “Moderate Buy” and an average price target 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.