Exchange Traded Concepts LLC Takes Position in F.N.B. Co. (NYSE:FNB)

Exchange Traded Concepts LLC acquired a new stake in shares of F.N.B. Co. (NYSE:FNB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 233,287 shares of the bank’s stock, valued at approximately $3,292,000. Exchange Traded Concepts LLC owned approximately 0.06% of F.N.B. at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of F.N.B. during the 2nd quarter valued at about $920,000. Sei Investments Co. boosted its position in shares of F.N.B. by 5.8% during the 1st quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after purchasing an additional 73,016 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of F.N.B. during the 1st quarter valued at about $600,000. Cetera Advisors LLC boosted its position in shares of F.N.B. by 253.4% during the 1st quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock valued at $1,311,000 after purchasing an additional 66,676 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of F.N.B. by 48.2% in the first quarter. Cetera Investment Advisers now owns 128,089 shares of the bank’s stock worth $1,806,000 after buying an additional 41,665 shares during the period. Institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FNB. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $16.00 target price on shares of F.N.B. in a report on Wednesday, June 26th. StockNews.com cut shares of F.N.B. from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Piper Sandler raised their target price on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Stephens reiterated an “overweight” rating and issued a $16.00 target price on shares of F.N.B. in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

F.N.B. Price Performance

NYSE FNB opened at $14.31 on Tuesday. The company has a 50 day simple moving average of $14.08 and a 200-day simple moving average of $13.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 10.01 and a beta of 0.96. F.N.B. Co. has a 52-week low of $10.24 and a 52-week high of $15.65.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $403.81 million for the quarter, compared to the consensus estimate of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. F.N.B.’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that F.N.B. Co. will post 1.38 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Thursday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, September 5th. F.N.B.’s payout ratio is presently 38.71%.

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.