F.N.B. Co. (NYSE:FNB) Sees Large Decrease in Short Interest

F.N.B. Co. (NYSE:FNB) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 7,580,000 shares, a drop of 5.4% from the October 31st total of 8,010,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

FNB has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of F.N.B. from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Stephens lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of F.N.B. during the 3rd quarter valued at $28,000. Brooklyn Investment Group purchased a new position in shares of F.N.B. during the 3rd quarter valued at $31,000. Richardson Financial Services Inc. grew its position in shares of 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 purchasing an additional 1,473 shares in the last quarter. GAMMA Investing LLC grew its position in shares of F.N.B. by 113.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,764 shares in the last quarter. Finally, UMB Bank n.a. grew its position 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 acquiring an additional 1,665 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Stock Performance

Shares of FNB stock opened at $16.70 on Thursday. The company’s fifty day simple moving average is $15.21 and its two-hundred day simple moving average is $14.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. F.N.B. has a 1 year low of $12.39 and a 1 year high of $17.70. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.12 and a beta of 0.99.

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

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. F.N.B.’s dividend payout ratio (DPR) is currently 44.04%.

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.