F.N.B. Co. (NYSE:FNB) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its position in F.N.B. Co. (NYSE:FNB) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,679 shares of the bank’s stock after acquiring an additional 1,040 shares during the quarter. Bank of Montreal Can’s holdings in F.N.B. were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FNB. LRI Investments LLC acquired a new position in F.N.B. in the 1st quarter valued at about $45,000. GAMMA Investing LLC increased its holdings in shares of F.N.B. by 113.8% in the second 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 during the period. Blue Trust Inc. raised its stake in shares of F.N.B. by 19.7% during the second quarter. Blue Trust Inc. now owns 9,042 shares of the bank’s stock worth $127,000 after purchasing an additional 1,486 shares during the last quarter. Hart & Patterson Financial Group LLC acquired a new stake in shares of F.N.B. during the fourth quarter worth $140,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of F.N.B. during the second quarter worth $140,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Stock Down 0.9 %

FNB stock opened at $13.66 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $14.11 and its 200 day moving average price is $13.87. F.N.B. Co. has a 52 week low of $10.24 and a 52 week high of $15.65. The company has a market cap of $4.91 billion, a P/E ratio of 11.02, a P/E/G ratio of 10.27 and a beta of 0.96.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate 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 firm 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 EPS. F.N.B.’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts expect that F.N.B. Co. will post 1.38 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Thursday, September 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Thursday, September 5th. F.N.B.’s dividend payout ratio is currently 38.71%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research note on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $16.00 price target on shares of F.N.B. in a report on Thursday, July 18th. StockNews.com downgraded shares of F.N.B. from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Piper Sandler boosted their target price on F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.29.

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.