Wolverine Asset Management LLC Makes New Investment in F.N.B. Corporation (NYSE:FNB)

Wolverine Asset Management LLC acquired a new position in shares of F.N.B. Corporation (NYSE:FNB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 30,537 shares of the bank’s stock, valued at approximately $411,000.

Several other institutional investors also recently bought and sold shares of the business. Forum Financial Management LP grew its stake in F.N.B. by 5.9% during the fourth quarter. Forum Financial Management LP now owns 13,258 shares of the bank’s stock worth $196,000 after buying an additional 744 shares during the period. Verdence Capital Advisors LLC grew its stake in F.N.B. by 3.2% during the first quarter. Verdence Capital Advisors LLC now owns 25,489 shares of the bank’s stock worth $343,000 after buying an additional 783 shares during the period. LPL Financial LLC grew its stake in F.N.B. by 0.4% during the first quarter. LPL Financial LLC now owns 224,171 shares of the bank’s stock worth $3,015,000 after buying an additional 886 shares during the period. Federated Hermes Inc. grew its stake in F.N.B. by 0.3% during the first quarter. Federated Hermes Inc. now owns 315,585 shares of the bank’s stock worth $4,245,000 after buying an additional 892 shares during the period. Finally, State of Michigan Retirement System grew its stake in F.N.B. by 1.1% during the first quarter. State of Michigan Retirement System now owns 86,051 shares of the bank’s stock worth $1,157,000 after buying an additional 900 shares during the period. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Trading Up 1.2%

NYSE FNB opened at $14.93 on Monday. F.N.B. Corporation has a 12 month low of $10.88 and a 12 month high of $17.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94. The company’s fifty day moving average price is $14.90 and its two-hundred day moving average price is $14.26.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. The firm had revenue of $438.21 million for the quarter, compared to the consensus estimate of $424.39 million. During the same period in the prior year, the firm posted $0.34 EPS. As a group, research analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, September 2nd. F.N.B.’s dividend payout ratio is 37.50%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FNB. DA Davidson boosted their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Truist Financial upped their target price on shares of F.N.B. from $17.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.50 target price (up from $16.50) on shares of F.N.B. in a research note on Monday, July 21st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, F.N.B. has a consensus rating of “Moderate Buy” and a consensus target price of $18.64.

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.