Arrowstreet Capital Limited Partnership Reduces Position in F.N.B. Co. (NYSE:FNB)

Arrowstreet Capital Limited Partnership lowered its position in F.N.B. Co. (NYSE:FNB) by 78.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 252,665 shares of the bank’s stock after selling 917,306 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in F.N.B. were worth $3,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its position in F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,759 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of F.N.B. by 100.9% in the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after buying an additional 2,014 shares during the last quarter. Sandy Spring Bank acquired a new stake in shares of F.N.B. during the fourth quarter worth about $67,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of F.N.B. by 31.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock worth $65,000 after buying an additional 1,100 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of F.N.B. during the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Down 0.9 %

Shares of NYSE FNB opened at $11.53 on Wednesday. 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 firm has a 50-day moving average price of $14.17 and a 200 day moving average price of $14.86. F.N.B. Co. has a 52 week low of $10.88 and a 52 week high of $17.70. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 3.60 and a beta of 0.86.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Monday, March 3rd. F.N.B.’s dividend payout ratio is currently 38.10%.

Insider Activity at F.N.B.

In other F.N.B. news, Director William B. Campbell acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $15.57 per share, with a total value of $46,710.00. Following the purchase, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director David L. Motley sold 15,000 shares of the company’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 value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FNB has been the subject of a number of recent research reports. Piper Sandler decreased their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. DA Davidson increased their price target on F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, F.N.B. has an average 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.