Swiss National Bank Trims Position in F.N.B. Corporation (NYSE:FNB)

Swiss National Bank lessened its stake in F.N.B. Corporation (NYSE:FNB) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696,715 shares of the bank’s stock after selling 10,500 shares during the period. Swiss National Bank owned 0.19% of F.N.B. worth $9,371,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in F.N.B. by 332.9% in the 1st quarter. Deutsche Bank AG now owns 93,174 shares of the bank’s stock worth $1,253,000 after buying an additional 71,650 shares during the period. Vanguard Group Inc. increased its stake in F.N.B. by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank’s stock worth $531,694,000 after buying an additional 114,672 shares during the period. McClarren Financial Advisors Inc. purchased a new position in F.N.B. in the 1st quarter worth about $28,000. PNC Financial Services Group Inc. increased its stake in F.N.B. by 3.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 76,618 shares of the bank’s stock worth $1,031,000 after buying an additional 2,490 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in F.N.B. in the 1st quarter worth about $641,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Down 1.6%

Shares of F.N.B. stock opened at $15.72 on Friday. The firm’s 50 day moving average price is $15.07 and its 200-day moving average price is $14.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70. The company has a market cap of $5.65 billion, a P/E ratio of 12.28, a PEG ratio of 0.91 and a beta of 0.94.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. The firm had revenue of $438.21 million for the quarter, compared to the consensus estimate of $424.39 million. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, sell-side analysts predict that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.1%. F.N.B.’s payout ratio is presently 37.50%.

Analysts Set New Price Targets

FNB has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a research report on Monday, July 21st. Truist Financial raised their target price on shares of F.N.B. from $17.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. DA Davidson raised their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company raised their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.64.

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.