California Public Employees Retirement System Sells 29,518 Shares of F.N.B. Co. (NYSE:FNB)

California Public Employees Retirement System lowered its position in shares of F.N.B. Co. (NYSE:FNBGet Rating) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 690,251 shares of the bank’s stock after selling 29,518 shares during the period. California Public Employees Retirement System’s holdings in F.N.B. were worth $7,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in F.N.B. by 13.1% during the first quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock valued at $497,953,000 after buying an additional 4,625,329 shares during the period. Vanguard Group Inc. lifted its position in F.N.B. by 9.8% during the first quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock valued at $437,721,000 after buying an additional 3,125,650 shares during the period. State Street Corp lifted its position in F.N.B. by 5.3% during the first quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock valued at $233,515,000 after buying an additional 942,178 shares during the period. Dimensional Fund Advisors LP lifted its position in F.N.B. by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 17,612,040 shares of the bank’s stock valued at $219,274,000 after buying an additional 1,145,955 shares during the period. Finally, American Century Companies Inc. lifted its position in F.N.B. by 14.3% during the first quarter. American Century Companies Inc. now owns 10,655,913 shares of the bank’s stock valued at $132,666,000 after buying an additional 1,330,992 shares during the period. Hedge funds and other institutional investors own 76.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FNB. StockNews.com began coverage on F.N.B. in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Truist Financial lifted their price target on F.N.B. from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. DA Davidson reaffirmed a “buy” rating on shares of F.N.B. in a research report on Wednesday, July 27th. Finally, Raymond James lifted their price target on F.N.B. from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, October 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.00.

F.N.B. Price Performance

FNB opened at $13.88 on Thursday. F.N.B. Co. has a 1 year low of $10.48 and a 1 year high of $14.71. The stock has a 50-day moving average price of $13.15 and a 200-day moving average price of $12.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $4.87 billion, a PE ratio of 12.28 and a beta of 1.11.

F.N.B. (NYSE:FNBGet Rating) last issued its earnings results on Wednesday, October 19th. The bank reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. F.N.B. had a return on equity of 8.40% and a net margin of 27.57%. The business had revenue of $379.59 million during the quarter, compared to analyst estimates of $361.67 million. During the same quarter in the previous year, the firm earned $0.34 EPS. F.N.B.’s revenue was up 18.2% on a year-over-year basis. Sell-side analysts predict that F.N.B. Co. will post 1.35 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is 42.48%.

Insiders Place Their Bets

In other news, Director William B. Campbell purchased 4,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $47,800.00. Following the purchase, the director now directly owns 124,733 shares in the company, valued at approximately $1,490,559.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other F.N.B. news, Director David J. Malone sold 29,600 shares of the business’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $13.55, for a total transaction of $401,080.00. Following the completion of the sale, the director now directly owns 89,504 shares in the company, valued at approximately $1,212,779.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William B. Campbell purchased 4,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were purchased at an average price of $11.95 per share, with a total value of $47,800.00. Following the completion of the purchase, the director now owns 124,733 shares in the company, valued at $1,490,559.35. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

F.N.B. Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding FNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for F.N.B. Co. (NYSE:FNBGet Rating).

Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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