JPMorgan Chase & Co. Raises Stock Holdings in F.N.B. Co. (NYSE:FNB)

JPMorgan Chase & Co. raised its holdings in shares of F.N.B. Co. (NYSE:FNB) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 987,084 shares of the bank’s stock after purchasing an additional 32,047 shares during the quarter. JPMorgan Chase & Co. owned 0.27% of F.N.B. worth $13,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in F.N.B. by 181.6% in the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after purchasing an additional 1,964,884 shares in the last quarter. Point72 Asset Management L.P. bought a new position in F.N.B. during the 3rd quarter worth approximately $14,190,000. Dimensional Fund Advisors LP grew its position in shares of F.N.B. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after acquiring an additional 647,335 shares in the last quarter. Jane Street Group LLC grew its position in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock worth $5,038,000 after acquiring an additional 316,515 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of F.N.B. by 1.9% in the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after acquiring an additional 278,825 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FNB shares. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Stephens raised their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price 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, December 4th. Finally, 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 note on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

F.N.B. Stock Down 2.7 %

FNB stock opened at $14.28 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $15.79 and its 200 day simple moving average is $14.78. The stock has a market cap of $5.13 billion, a PE ratio of 13.10 and a beta of 1.01. F.N.B. Co. has a fifty-two week low of $12.49 and a fifty-two week high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm 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%. As a group, sell-side analysts predict that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.’s payout ratio is currently 44.04%.

About F.N.B.

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.