Swiss National Bank Lowers Stock Holdings in F.N.B. Co. (NYSE:FNB)

Swiss National Bank reduced its position in F.N.B. Co. (NYSE:FNB) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 702,215 shares of the bank’s stock after selling 3,700 shares during the quarter. Swiss National Bank owned 0.20% of F.N.B. worth $9,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co boosted its stake in F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock worth $231,000 after buying an additional 789 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of F.N.B. by 16.7% in the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock worth $79,000 after acquiring an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of F.N.B. by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock valued at $480,000 after purchasing an additional 836 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of F.N.B. by 2.2% during the 2nd quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock valued at $653,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its position in F.N.B. by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after purchasing an additional 1,473 shares during the period. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Price Performance

Shares of FNB stock opened at $17.15 on Monday. 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 fifty-two week low of $11.55 and a fifty-two week high of $17.19. The firm has a market cap of $6.17 billion, a P/E ratio of 15.73 and a beta of 0.95. The business’s 50 day moving average price is $14.81 and its 200-day moving average price is $14.27.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data 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 company had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. On average, equities research analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.80%. F.N.B.’s dividend payout ratio is presently 44.04%.

Analysts Set New Price Targets

FNB has been the topic of a number of recent research reports. Stephens raised their price objective on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Raymond James raised their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.83.

F.N.B. 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.