Cardinal Capital Management Trims Position in F.N.B. Co. (NYSE:FNB)

Cardinal Capital Management reduced its holdings in F.N.B. Co. (NYSE:FNB) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 132,570 shares of the bank’s stock after selling 948 shares during the period. Cardinal Capital Management’s holdings in F.N.B. were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in F.N.B. by 1.9% during the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock worth $214,266,000 after purchasing an additional 278,825 shares during the period. Principal Financial Group Inc. grew its holdings in F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock worth $69,879,000 after acquiring an additional 127,516 shares during the period. Thrivent Financial for Lutherans raised its position in F.N.B. by 2.8% during the third quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock valued at $67,986,000 after acquiring an additional 130,972 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in F.N.B. by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock valued at $54,868,000 after acquiring an additional 218,511 shares during the period. Finally, Wellington Management Group LLP boosted its position in F.N.B. by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,044,815 shares of the bank’s stock worth $14,742,000 after purchasing an additional 11,454 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Wall Street Analyst Weigh In

FNB has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Raymond James upped their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler lowered their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

F.N.B. Trading Up 0.0 %

NYSE:FNB opened at $15.43 on Tuesday. F.N.B. Co. has a 12-month low of $12.49 and a 12-month high of $17.70. The firm has a market cap of $5.55 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 3.80 and a beta of 1.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $15.28 and a 200 day moving average price of $14.99.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, March 3rd. F.N.B.’s dividend payout ratio is presently 38.10%.

Insiders Place Their Bets

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’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 transaction, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William B. Campbell acquired 3,000 shares of F.N.B. stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $15.57 per share, with a total value of $46,710.00. Following the purchase, the director now owns 158,834 shares of the company’s stock, valued at $2,473,045.38. The trade was a 1.93 % increase in their position. The disclosure for this purchase can be found here. 1.03% of the stock is owned by company insiders.

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.