AIA Group Ltd Reduces Stake in F.N.B. Co. (NYSE:FNB)

AIA Group Ltd trimmed its stake in F.N.B. Co. (NYSE:FNB) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,835 shares of the bank’s stock after selling 3,431 shares during the period. AIA Group Ltd’s holdings in F.N.B. were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaQuest LLC lifted its position in F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock worth $27,000 after buying an additional 1,759 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of F.N.B. by 100.9% in the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after acquiring an additional 2,014 shares during the period. Sandy Spring Bank purchased a new position in shares of F.N.B. during the 4th quarter worth about $67,000. Nomura Asset Management Co. Ltd. grew its holdings in 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 valued at $65,000 after purchasing an additional 1,100 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in F.N.B. in the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Piper Sandler cut their price objective 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. DA Davidson lifted their target price on F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, F.N.B. has a consensus rating of “Moderate Buy” and an average price target of $18.50.

F.N.B. Price Performance

FNB opened at $13.47 on Tuesday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 3.60 and a beta of 0.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. F.N.B. Co. has a 12-month low of $12.49 and a 12-month high of $17.70. The business’s fifty day simple moving average is $14.66 and its 200-day simple moving average is $14.96.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Monday, March 3rd. F.N.B.’s dividend payout ratio (DPR) is 38.10%.

Insider Activity

In other news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the transaction, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William B. Campbell acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $15.57 per share, with a total value of $46,710.00. Following the completion of the purchase, the director now directly owns 158,834 shares in the company, valued at $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.03% of the company’s stock.

About F.N.B.

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.