Phocas Financial Corp. Decreases Holdings in F.N.B. Co. (NYSE:FNB)

Phocas Financial Corp. trimmed its position in shares of F.N.B. Co. (NYSE:FNB) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 655,687 shares of the bank’s stock after selling 40,560 shares during the quarter. Phocas Financial Corp.’s holdings in F.N.B. were worth $9,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LMR Partners LLP purchased a new position in F.N.B. in the third quarter worth about $329,000. Thrivent Financial for Lutherans lifted its stake in shares of F.N.B. by 2.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock worth $67,986,000 after purchasing an additional 130,972 shares during the period. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of F.N.B. in the third quarter worth approximately $251,000. Natixis Advisors LLC grew its position in F.N.B. by 4.0% during the third quarter. Natixis Advisors LLC now owns 66,705 shares of the bank’s stock valued at $941,000 after buying an additional 2,591 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of F.N.B. during the 3rd quarter worth $326,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FNB shares. Stephens raised their target price on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Finally, StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, F.N.B. currently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

F.N.B. Price Performance

NYSE:FNB opened at $16.49 on Tuesday. The company has a market capitalization of $5.93 billion, a P/E ratio of 15.13 and a beta of 0.95. The business’s 50-day moving average is $14.59 and its 200 day moving average is $14.19. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. F.N.B. Co. has a 12 month low of $11.55 and a 12 month high of $16.97.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. On average, equities research analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s payout ratio is 44.04%.

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.