Victory Capital Management Inc. Purchases 3,801 Shares of F.N.B. Co. (NYSE:FNB)

Victory Capital Management Inc. raised its position in F.N.B. Co. (NYSE:FNB) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,925 shares of the bank’s stock after purchasing an additional 3,801 shares during the period. Victory Capital Management Inc.’s holdings in F.N.B. were worth $1,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of F.N.B. in the third quarter worth $31,000. Versant Capital Management Inc increased its stake in F.N.B. by 100.9% in the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after acquiring an additional 2,014 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of F.N.B. by 31.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after acquiring an additional 1,100 shares in the last quarter. R Squared Ltd bought a new stake in shares of F.N.B. during the 4th quarter valued at about $69,000. Finally, Quarry LP purchased a new position in shares of F.N.B. during the third quarter worth about $73,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at F.N.B.

In related news, Director David L. Motley sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the transaction, the director now owns 65,344 shares of the company’s stock, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William B. Campbell bought 3,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the acquisition, the director now directly owns 158,834 shares of the company’s stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. DA Davidson raised their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods upped 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 research report on Wednesday, December 4th. Wells Fargo & Company reduced their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Raymond James lifted their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.50.

F.N.B. Price Performance

FNB stock opened at $13.63 on Tuesday. The firm has a market cap of $4.90 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.60 and a beta of 0.98. The firm’s fifty day moving average is $14.92 and its 200 day moving average is $15.01. F.N.B. Co. has a 52 week low of $12.49 and a 52 week high of $17.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.52%. F.N.B.’s dividend payout ratio (DPR) is currently 38.10%.

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.