Short Interest in F.N.B. Co. (NYSE:FNB) Drops By 9.4%

F.N.B. Co. (NYSE:FNB) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 6,870,000 shares, a decrease of 9.4% from the November 15th total of 7,580,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is currently 3.0 days.

F.N.B. Trading Down 0.3 %

Shares of F.N.B. stock traded down $0.05 during mid-day trading on Friday, hitting $15.91. The stock had a trading volume of 3,056,005 shares, compared to its average volume of 2,210,907. The firm has a market cap of $5.72 billion, a P/E ratio of 14.60 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $15.61 and a two-hundred day moving average of $14.55. F.N.B. has a 12-month low of $12.49 and a 12-month high of $17.70.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The company had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. Sell-side analysts forecast that F.N.B. will post 1.34 earnings per share 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Analysts Set New Price Targets

FNB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens lifted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Raymond James raised 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. Wells Fargo & Company boosted their price target on F.N.B. from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Insider Buying and Selling at F.N.B.

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the transaction, the chief executive officer now owns 1,652,229 shares in the company, valued at approximately $27,261,778.50. This represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNB. Kathleen S. Wright Associates Inc. acquired a new position in shares of F.N.B. in the third quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in shares of F.N.B. in the third quarter valued at about $31,000. Richardson Financial Services Inc. lifted 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 valued at $41,000 after purchasing an additional 1,473 shares during the period. UMB Bank n.a. increased its position in 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 during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of F.N.B. by 31.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock worth $65,000 after buying an additional 1,100 shares in the last quarter. 79.25% of the stock is owned by institutional investors and hedge funds.

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.