Amalgamated Bank Has $3.08 Million Stock Position in F.N.B. Co. (NYSE:FNB)

Amalgamated Bank cut its stake in shares of F.N.B. Co. (NYSE:FNB) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,013 shares of the bank’s stock after selling 19,593 shares during the period. Amalgamated Bank owned approximately 0.06% of F.N.B. worth $3,078,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. LRI Investments LLC bought a new position in F.N.B. during the first quarter worth about $45,000. GAMMA Investing LLC lifted its holdings in F.N.B. by 113.8% during the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after acquiring an additional 1,764 shares in the last quarter. Blue Trust Inc. grew its stake in F.N.B. by 19.7% in the second quarter. Blue Trust Inc. now owns 9,042 shares of the bank’s stock valued at $127,000 after acquiring an additional 1,486 shares during the period. Hart & Patterson Financial Group LLC bought a new stake in shares of F.N.B. in the fourth quarter worth about $140,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of F.N.B. during the second quarter worth about $140,000. 79.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens reissued an “overweight” rating and set a $16.00 target price on shares of F.N.B. in a research note on Thursday, July 18th. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Piper Sandler upped their price objective on F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 target price on shares of F.N.B. in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.29.

F.N.B. Stock Performance

FNB opened at $14.19 on Tuesday. The business’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $13.85. F.N.B. Co. has a 52-week low of $10.24 and a 52-week high of $15.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $5.10 billion, a PE ratio of 11.44, a PEG ratio of 9.98 and a beta of 0.96.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $403.81 million during the quarter, compared to analyst estimates of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. As a group, sell-side analysts expect that F.N.B. Co. will post 1.38 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.38%. F.N.B.’s dividend payout ratio is presently 38.71%.

F.N.B. 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.