F.N.B. Co. (NYSE:FNB) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its holdings in F.N.B. Co. (NYSE:FNB) by 75.4% in the third quarter, Holdings Channel.com reports. The fund owned 567,950 shares of the bank’s stock after selling 1,742,957 shares during the quarter. Verition Fund Management LLC’s holdings in F.N.B. were worth $8,014,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Diversified Trust Co increased its holdings in F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock valued at $231,000 after buying an additional 789 shares in the last quarter. Signaturefd LLC raised its holdings in F.N.B. by 16.7% during the third quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock worth $79,000 after purchasing an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in F.N.B. by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock worth $480,000 after purchasing an additional 836 shares in the last quarter. Hancock Whitney Corp grew its holdings in F.N.B. by 0.8% in the third quarter. Hancock Whitney Corp now owns 121,945 shares of the bank’s stock valued at $1,721,000 after purchasing an additional 947 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of F.N.B. by 2.2% in the second quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock valued at $653,000 after buying an additional 1,040 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Stock Down 0.1 %

FNB stock opened at $17.15 on Monday. The company has a 50 day moving average price of $15.10 and a two-hundred day moving average price of $14.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $6.17 billion, a P/E ratio of 15.73 and a beta of 0.95. F.N.B. Co. has a one year low of $11.89 and a one year high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, sell-side analysts expect that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.80%. F.N.B.’s payout ratio is 44.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stephens lifted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Raymond James upped their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Finally, StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.83.

F.N.B. 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.