Arizona State Retirement System Acquires 765 Shares of F.N.B. Co. (NYSE:FNB)

Arizona State Retirement System grew its position in shares of F.N.B. Co. (NYSE:FNB) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 104,354 shares of the bank’s stock after buying an additional 765 shares during the period. Arizona State Retirement System’s holdings in F.N.B. were worth $1,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP increased its holdings in shares of F.N.B. by 49.8% during the fourth quarter. Aigen Investment Management LP now owns 35,977 shares of the bank’s stock valued at $532,000 after acquiring an additional 11,958 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of F.N.B. during the fourth quarter valued at approximately $177,000. Victory Capital Management Inc. increased its holdings in shares of F.N.B. by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 127,925 shares of the bank’s stock valued at $1,891,000 after acquiring an additional 3,801 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $58,239,000 after acquiring an additional 51,862 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of F.N.B. by 40.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,701 shares of the bank’s stock valued at $84,000 after acquiring an additional 1,631 shares in the last quarter. Institutional investors own 79.25% of the company’s stock.

Insiders Place Their Bets

In other news, Director David L. Motley sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $1,013,485.44. This represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William B. Campbell purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the transaction, the director now directly owns 158,834 shares in the company, valued at approximately $2,473,045.38. The trade was 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.

F.N.B. Stock Up 1.4 %

FNB stock opened at $13.26 on Thursday. The stock’s fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $15.03. 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. Co. has a 1-year low of $12.49 and a 1-year high of $17.70. The stock has a market cap of $4.77 billion, a P/E ratio of 10.52, a P/E/G ratio of 3.60 and a beta of 0.98.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.62%. F.N.B.’s dividend payout ratio is currently 38.10%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Piper Sandler cut their target price 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. Raymond James lifted their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. DA Davidson lifted their target price on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.