Central Pacific Bank Trust Division Cuts Stake in F.N.B. Co. (NYSE:FNB)

Central Pacific Bank Trust Division cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,130 shares of the bank’s stock after selling 3,350 shares during the period. Central Pacific Bank Trust Division’s holdings in F.N.B. were worth $143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FNB. Sanctuary Advisors LLC acquired a new position in F.N.B. during the 2nd quarter valued at about $553,000. Covington Investment Advisors Inc. acquired a new position in shares of F.N.B. during the second quarter valued at about $915,000. Creative Planning raised its position in shares of F.N.B. by 2.7% in the 2nd quarter. Creative Planning now owns 58,974 shares of the bank’s stock valued at $807,000 after purchasing an additional 1,570 shares during the last quarter. Algert Global LLC purchased a new position in shares of F.N.B. in the 2nd quarter valued at approximately $494,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in F.N.B. in the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Up 1.6 %

Shares of FNB opened at $13.84 on Friday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 10.27 and a beta of 0.96. F.N.B. Co. has a 52 week low of $10.24 and a 52 week high of $15.65. The stock’s 50-day moving average price is $14.21 and its 200-day moving average price is $13.86. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

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). F.N.B. had a return on equity of 9.04% and a net margin of 18.27%. The company had revenue of $403.81 million during the quarter, compared to analysts’ expectations of $408.14 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts predict that F.N.B. Co. will post 1.38 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently announced 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. This represents a $0.48 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, September 5th. F.N.B.’s payout ratio is currently 38.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com cut F.N.B. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Stephens reissued an “overweight” rating and issued a $16.00 price objective on shares of F.N.B. in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.29.

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.