PL Capital Advisors LLC Takes Position in F.N.B. Co. (NYSE:FNB)

PL Capital Advisors LLC acquired a new position in F.N.B. Co. (NYSE:FNB) in the fourth quarter, Holdings Channel.com reports. The fund acquired 20,880,667 shares of the bank’s stock, valued at approximately $308,616,000. F.N.B. accounts for approximately 3.6% of PL Capital Advisors LLC’s holdings, making the stock its 9th largest holding. PL Capital Advisors LLC owned about 0.06% of F.N.B. as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNB. Brooklyn Investment Group purchased a new stake in F.N.B. during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in shares of F.N.B. by 100.9% during the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after buying an additional 2,014 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of F.N.B. by 31.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after acquiring an additional 1,100 shares during the period. R Squared Ltd acquired a new position in shares of F.N.B. in the 4th quarter valued at $69,000. Finally, Quarry LP purchased a new position in F.N.B. in the 3rd quarter worth $73,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FNB. Raymond James increased their price objective on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods increased their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler reduced their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

F.N.B. Price Performance

NYSE:FNB opened at $14.53 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50 day moving average price of $15.17 and a 200-day moving average price of $15.05. F.N.B. Co. has a 1-year low of $12.49 and a 1-year high of $17.70. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 3.60 and a beta of 1.01.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be issued a $0.12 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.30%. F.N.B.’s payout ratio is 38.10%.

Insiders Place Their Bets

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of 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 represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David L. Motley sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.