Meritage Portfolio Management Has $6.16 Million Stock Holdings in F.N.B. Co. (NYSE:FNB)

Meritage Portfolio Management lowered its holdings in shares of F.N.B. Co. (NYSE:FNB) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 417,056 shares of the bank’s stock after selling 5,249 shares during the period. Meritage Portfolio Management’s holdings in F.N.B. were worth $6,164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FNB. Kathleen S. Wright Associates Inc. acquired a new position in F.N.B. during the third quarter worth about $28,000. Brooklyn Investment Group acquired a new position in F.N.B. during the 3rd quarter worth approximately $31,000. Richardson Financial Services Inc. lifted its stake 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 valued at $41,000 after purchasing an additional 1,473 shares during the last quarter. UMB Bank n.a. boosted its position in F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after buying an additional 1,665 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of F.N.B. by 100.9% during the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after buying an additional 2,014 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors.

Insider Transactions at F.N.B.

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares in the company, valued at $27,261,778.50. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.22% of the company’s stock.

F.N.B. Price Performance

Shares of FNB opened at $15.59 on Wednesday. The business has a 50-day moving average of $15.49 and a 200-day moving average of $14.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 3.74 and a beta of 1.01. F.N.B. Co. has a 1 year low of $12.49 and a 1 year high of $17.70.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.08%. F.N.B.’s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Raymond James increased their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler reduced their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Stephens raised their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, DA Davidson lifted their target price on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.50.

About F.N.B.

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.