State of New Jersey Common Pension Fund D bought a new position in shares of F.N.B. Co. (NYSE:FNB – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 187,895 shares of the bank’s stock, valued at approximately $2,339,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of F.N.B. as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. grew its holdings in shares of F.N.B. by 0.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 29,903,568 shares of the bank’s stock worth $362,730,000 after purchasing an additional 114,286 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of F.N.B. by 1,877.8% during the 4th quarter. JPMorgan Chase & Co. now owns 20,404,395 shares of the bank’s stock worth $247,506,000 after purchasing an additional 19,372,714 shares in the last quarter. State Street Corp grew its holdings in shares of F.N.B. by 4.1% during the 4th quarter. State Street Corp now owns 17,814,040 shares of the bank’s stock worth $216,084,000 after purchasing an additional 695,043 shares in the last quarter. American Century Companies Inc. lifted its position in shares of F.N.B. by 24.0% during the 4th quarter. American Century Companies Inc. now owns 9,324,921 shares of the bank’s stock worth $113,111,000 after buying an additional 1,805,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of F.N.B. by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 4,019,412 shares of the bank’s stock worth $48,755,000 after buying an additional 180,352 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
FNB has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price objective on F.N.B. from $13.00 to $12.00 in a research report on Monday, July 11th. Truist Financial dropped their price objective on F.N.B. from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 6th. Finally, DA Davidson reiterated a “buy” rating on shares of F.N.B. in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, F.N.B. has an average rating of “Moderate Buy” and an average price target of $14.00.
F.N.B. Price Performance
F.N.B. (NYSE:FNB – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $336.17 million. F.N.B. had a return on equity of 8.04% and a net margin of 27.30%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts expect that F.N.B. Co. will post 1.29 EPS for the current year.
F.N.B. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be paid a $0.12 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 4.07%. F.N.B.’s payout ratio is 44.04%.
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
- Get a free copy of the StockNews.com research report on F.N.B. (FNB)
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