Point72 Asia Singapore Pte. Ltd. Acquires Shares of 20,158 F.N.B. Co. (NYSE:FNB)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of F.N.B. Co. (NYSE:FNB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,158 shares of the bank’s stock, valued at approximately $284,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. acquired a new position in F.N.B. during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group acquired a new position in F.N.B. during the third quarter worth $31,000. Richardson Financial Services Inc. raised its position in F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after acquiring an additional 1,473 shares in the last quarter. GAMMA Investing LLC lifted its holdings in F.N.B. by 113.8% in the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,764 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of F.N.B. by 82.3% during the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after purchasing an additional 1,665 shares in the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Trading Down 0.9 %

Shares of FNB opened at $16.70 on Wednesday. F.N.B. Co. has a fifty-two week low of $12.28 and a fifty-two week high of $17.70. The company has a market capitalization of $6.00 billion, a PE ratio of 15.32 and a beta of 0.99. The stock has a fifty day moving average of $15.15 and a two-hundred day moving average of $14.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company 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, analysts forecast that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 2.88%. F.N.B.’s dividend payout ratio is presently 44.04%.

Wall Street Analysts Forecast Growth

FNB has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James raised their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Stephens increased their price target on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

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.