Advisors Asset Management Inc. Has $212,000 Stake in F.N.B. Corp (FNB)
Advisors Asset Management Inc. increased its stake in F.N.B. Corp (NYSE:FNB) by 174.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,306 shares of the bank’s stock after acquiring an additional 10,373 shares during the period. Advisors Asset Management Inc.’s holdings in F.N.B. were worth $212,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA raised its stake in F.N.B. by 45.5% in the second quarter. Glenmede Trust Co. NA now owns 6,274,483 shares of the bank’s stock valued at $84,203,000 after buying an additional 1,962,895 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in F.N.B. in the second quarter valued at $124,000. Waddell & Reed Financial Inc. acquired a new stake in F.N.B. in the second quarter valued at $415,000. Macquarie Group Ltd. acquired a new stake in F.N.B. in the second quarter valued at $39,646,000. Finally, Bank of America Corp DE raised its stake in F.N.B. by 112.2% in the second quarter. Bank of America Corp DE now owns 4,502,217 shares of the bank’s stock valued at $60,419,000 after buying an additional 2,380,341 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
FNB opened at $11.91 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.82 and a current ratio of 0.82. F.N.B. Corp has a one year low of $11.58 and a one year high of $14.91. The stock has a market cap of $4.12 billion, a PE ratio of 12.81, a PEG ratio of 1.22 and a beta of 0.92.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 15th. Investors of record on Tuesday, September 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, August 31st. F.N.B.’s dividend payout ratio is currently 51.61%.
In related news, Director Frank C. Mencini purchased 2,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average price of $13.07 per share, with a total value of $26,140.00. Following the completion of the acquisition, the director now directly owns 32,681 shares in the company, valued at approximately $427,140.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.63% of the company’s stock.
A number of analysts have recently commented on FNB shares. Wells Fargo & Co set a $15.00 target price on F.N.B. and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Boenning Scattergood reiterated a “buy” rating on shares of F.N.B. in a research report on Wednesday, July 25th. ValuEngine upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Raymond James cut F.N.B. from a “strong-buy” rating to an “outperform” rating and set a $19.00 target price on the stock. in a research report on Wednesday, July 25th. Finally, Zacks Investment Research cut F.N.B. from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. F.N.B. currently has an average rating of “Hold” and an average price target of $16.14.
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through four segments: Community Banking, Wealth Management, Insurance, and Consumer Finance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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