F.N.B. Co. (NYSE:FNB) Short Interest Down 5.9% in August

F.N.B. Co. (NYSE:FNB) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 7,360,000 shares, a drop of 5.9% from the August 15th total of 7,820,000 shares. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in F.N.B. by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 39,346,808 shares of the bank’s stock valued at $541,806,000 after acquiring an additional 156,120 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $303,361,000 after purchasing an additional 647,335 shares during the period. Principal Financial Group Inc. grew its stake in F.N.B. by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,969,587 shares of the bank’s stock worth $70,071,000 after buying an additional 48,336 shares during the last quarter. Norges Bank acquired a new position in F.N.B. during the fourth quarter worth approximately $49,533,000. Finally, AQR Capital Management LLC lifted 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 valued at $41,045,000 after buying an additional 1,964,884 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FNB shares. Stephens restated an “overweight” rating and issued a $16.00 target price on shares of F.N.B. in a report on Thursday, July 18th. Piper Sandler upped their price objective on shares of F.N.B. from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price target on shares of F.N.B. in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.29.

F.N.B. Price Performance

Shares of NYSE FNB opened at $14.24 on Thursday. The stock’s 50-day moving average is $14.41 and its two-hundred day moving average is $13.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 9.98 and a beta of 0.97. F.N.B. has a 1-year low of $10.24 and a 1-year high of $15.65.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $403.81 million for the quarter, compared to analysts’ expectations of $408.14 million. During the same period last year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that F.N.B. will post 1.38 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.48 dividend on an annualized basis and a yield of 3.37%. F.N.B.’s payout ratio is currently 38.71%.

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.