Retirement Systems of Alabama Lowers Holdings in F.N.B. Co. (NYSE:FNB)

Retirement Systems of Alabama reduced its holdings in shares of F.N.B. Co. (NYSE:FNB) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,243,394 shares of the bank’s stock after selling 7,229 shares during the period. Retirement Systems of Alabama owned about 0.35% of F.N.B. worth $17,544,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FNB. Dimensional Fund Advisors LP increased 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 acquiring an additional 647,335 shares during the period. State Street Corp increased its holdings in F.N.B. by 1.9% during the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock worth $214,266,000 after purchasing an additional 278,825 shares during the period. Principal Financial Group Inc. raised its position in F.N.B. by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock valued at $69,879,000 after purchasing an additional 127,516 shares in the last quarter. Thrivent Financial for Lutherans raised its position in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 218,511 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Trading Down 0.3 %

NYSE FNB opened at $15.91 on Friday. The firm’s fifty day moving average price is $15.61 and its 200 day moving average price is $14.55. F.N.B. Co. has a 12 month low of $12.49 and a 12 month high of $17.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 14.60 and a beta of 0.99.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) 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 firm had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. On average, sell-side analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

Analyst Upgrades and Downgrades

FNB has been the topic of a number of recent research reports. Stephens raised their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their target price on F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Raymond James lifted their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Insider Activity

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.