Blue Trust Inc. Raises Position in F.N.B. Co. (NYSE:FNB)

Blue Trust Inc. raised its stake in shares of F.N.B. Co. (NYSE:FNB) by 39.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,616 shares of the bank’s stock after purchasing an additional 3,574 shares during the period. Blue Trust Inc.’s holdings in F.N.B. were worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of F.N.B. by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after acquiring an additional 1,964,884 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of F.N.B. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after purchasing an additional 647,335 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of F.N.B. during the third quarter worth $3,292,000. Choreo LLC bought a new position in shares of F.N.B. in the second quarter worth about $2,802,000. Finally, Stieven Capital Advisors L.P. increased its stake in F.N.B. by 8.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 1,173,891 shares of the bank’s stock worth $16,059,000 after buying an additional 95,100 shares during the period. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Price Performance

NYSE FNB opened at $14.17 on Friday. The company has a market cap of $5.10 billion, a PE ratio of 13.00, a P/E/G ratio of 10.58 and a beta of 0.96. The firm’s 50 day moving average price is $14.23 and its 200-day moving average price is $13.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a 52-week low of $10.40 and a 52-week high of $15.65.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.48 annualized dividend and a yield of 3.39%. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FNB shares. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Finally, Stephens increased their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note 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’s stock. According to MarketBeat.com, F.N.B. has an average rating of “Moderate Buy” and an average target price of $16.33.

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.