Los Angeles Capital Management LLC Cuts Holdings in F.N.B. Co. (NYSE:FNB)

Los Angeles Capital Management LLC lessened its position in shares of F.N.B. Co. (NYSE:FNB) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,469 shares of the bank’s stock after selling 1,370 shares during the period. Los Angeles Capital Management LLC’s holdings in F.N.B. were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FNB. Dimensional Fund Advisors LP grew its holdings in shares of F.N.B. by 3.0% during the 2nd 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 period. Principal Financial Group Inc. increased its position in shares of F.N.B. by 2.6% in the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock worth $69,879,000 after acquiring an additional 127,516 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of F.N.B. by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after acquiring an additional 1,964,884 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of F.N.B. by 2.9% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,461,258 shares of the bank’s stock valued at $19,990,000 after acquiring an additional 41,610 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in F.N.B. by 1.8% in the 2nd quarter. Sei Investments Co. now owns 1,365,518 shares of the bank’s stock valued at $18,680,000 after purchasing an additional 24,474 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FNB shares. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Stephens increased their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

F.N.B. Trading Down 0.2 %

NYSE:FNB opened at $16.49 on Tuesday. F.N.B. Co. has a one year low of $11.55 and a one year high of $16.97. The business’s 50-day simple moving average is $14.59 and its 200 day simple moving average is $14.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 15.13 and a beta of 0.95.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The business had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. As a group, sell-side analysts predict that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

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.