Basswood Capital Management L.L.C. Raises Stake in F.N.B. Corp (FNB)
Basswood Capital Management L.L.C. lifted its position in F.N.B. Corp (NYSE:FNB) by 32.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,884,017 shares of the bank’s stock after acquiring an additional 462,787 shares during the quarter. F.N.B. accounts for approximately 1.1% of Basswood Capital Management L.L.C.’s holdings, making the stock its 26th largest position. Basswood Capital Management L.L.C. owned 0.58% of F.N.B. worth $18,539,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank grew its position in shares of F.N.B. by 11,333.3% in the 4th quarter. Toronto Dominion Bank now owns 6,860 shares of the bank’s stock worth $67,000 after acquiring an additional 6,800 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of F.N.B. in the 4th quarter worth approximately $79,000. Virtu Financial LLC bought a new stake in shares of F.N.B. in the 3rd quarter worth approximately $145,000. Pearl River Capital LLC bought a new stake in shares of F.N.B. in the 4th quarter worth approximately $121,000. Finally, Blair William & Co. IL bought a new stake in shares of F.N.B. in the 3rd quarter worth approximately $161,000. Institutional investors own 77.62% of the company’s stock.
Shares of NYSE FNB opened at $11.85 on Friday. The company has a market capitalization of $3.85 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.06 and a beta of 1.23. F.N.B. Corp has a 12-month low of $9.35 and a 12-month high of $14.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 0.82.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, March 4th. F.N.B.’s dividend payout ratio (DPR) is 42.48%.
Several brokerages recently issued reports on FNB. TheStreet downgraded F.N.B. from a “b-” rating to a “c+” rating in a report on Friday, December 21st. Zacks Investment Research downgraded F.N.B. from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.
In related news, Director Mary Jo Dively purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were acquired at an average price of $11.81 per share, with a total value of $35,430.00. Following the acquisition, the director now owns 17,900 shares in the company, valued at approximately $211,399. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William B. Campbell sold 2,900 shares of F.N.B. stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $11.95, for a total value of $34,655.00. Following the sale, the director now directly owns 82,240 shares in the company, valued at approximately $982,768. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
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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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