Verition Fund Management LLC Decreases Stock Position in F.N.B. Co. (NYSE:FNB)

Verition Fund Management LLC trimmed its stake in shares of F.N.B. Co. (NYSE:FNB) by 75.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,950 shares of the bank’s stock after selling 1,742,957 shares during the quarter. Verition Fund Management LLC owned 0.16% of F.N.B. worth $8,014,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of F.N.B. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after buying an additional 647,335 shares in the last quarter. Principal Financial Group Inc. grew its holdings in F.N.B. by 2.6% during the 3rd 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 in the last quarter. Thrivent Financial for Lutherans increased its position 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 valued at $67,986,000 after purchasing an additional 130,972 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of F.N.B. by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock valued at $54,868,000 after purchasing an additional 218,511 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of F.N.B. by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after purchasing an additional 1,964,884 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

Shares of NYSE FNB opened at $17.15 on Monday. 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 stock has a market cap of $6.17 billion, a P/E ratio of 15.73 and a beta of 0.95. The stock has a 50 day moving average of $15.10 and a two-hundred day moving average of $14.38. F.N.B. Co. has a twelve month low of $11.89 and a twelve month high of $17.70.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. On average, research analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stephens increased their target price on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Raymond James raised their target price on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, F.N.B. currently has an average rating of “Moderate Buy” and an average target price of $16.83.

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.