Meritage Portfolio Management Has $5.96 Million Stake in F.N.B. Co. (NYSE:FNB)

Meritage Portfolio Management cut its stake in shares of F.N.B. Co. (NYSE:FNB) by 1.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 422,305 shares of the bank’s stock after selling 7,189 shares during the quarter. Meritage Portfolio Management’s holdings in F.N.B. were worth $5,959,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co boosted its holdings in F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock valued at $231,000 after acquiring an additional 789 shares during the last quarter. Signaturefd LLC boosted its stake in shares of F.N.B. by 16.7% in the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock valued at $79,000 after purchasing an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of F.N.B. by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock worth $480,000 after buying an additional 836 shares during the period. Bank of Montreal Can raised its stake in F.N.B. by 2.2% during the second quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock worth $653,000 after buying an additional 1,040 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in F.N.B. by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,473 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FNB shares. Stephens lifted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, F.N.B. presently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

F.N.B. Stock Up 0.5 %

Shares of FNB traded up $0.08 during trading hours on Friday, reaching $16.14. The stock had a trading volume of 1,787,613 shares, compared to its average volume of 2,729,924. The firm has a 50-day simple moving average of $14.33 and a 200 day simple moving average of $14.06. F.N.B. Co. has a 12 month low of $10.98 and a 12 month high of $16.76. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 14.81 and a beta of 0.95.

F.N.B. (NYSE:FNB) last released 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). The business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. Equities research analysts predict that F.N.B. Co. will post 1.35 earnings per share for the current fiscal year.

F.N.B. 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.