Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 11,739 F.N.B. Co. (NYSE:FNB)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in F.N.B. Co. (NYSE:FNB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,739 shares of the bank’s stock, valued at approximately $166,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of F.N.B. during the third quarter valued at approximately $28,000. Richardson Financial Services Inc. boosted its holdings in F.N.B. by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,473 shares during the period. GAMMA Investing LLC grew its position in F.N.B. by 113.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,764 shares during the last quarter. UMB Bank n.a. increased its stake in F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after purchasing an additional 1,665 shares during the period. Finally, Signaturefd LLC lifted its position in shares of F.N.B. by 16.7% during the third quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock worth $79,000 after purchasing an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on FNB shares. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stephens raised their price target on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Finally, Raymond James raised their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.83.

F.N.B. Stock Performance

NYSE FNB opened at $17.15 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s fifty day moving average is $15.10 and its two-hundred day moving average is $14.38. The firm has a market capitalization of $6.17 billion, a P/E ratio of 15.73 and a beta of 0.95. F.N.B. Co. has a fifty-two week low of $11.89 and a fifty-two week high of $17.70.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. On average, research analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

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.