F.N.B. Corporation $FNB Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in shares of F.N.B. Corporation (NYSE:FNB) by 17.0% during the third quarter, Holdings Channel reports. The institutional investor owned 218,354 shares of the bank’s stock after selling 44,627 shares during the quarter. Wedge Capital Management L L P NC’s holdings in F.N.B. were worth $3,518,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in F.N.B. by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank’s stock worth $25,204,000 after acquiring an additional 505,780 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after buying an additional 660,387 shares during the last quarter. Wellington Management Group LLP increased its holdings in F.N.B. by 10.0% in the first quarter. Wellington Management Group LLP now owns 1,169,933 shares of the bank’s stock valued at $15,736,000 after buying an additional 106,571 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after buying an additional 58,672 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in F.N.B. by 175.9% during the 1st quarter. Hsbc Holdings PLC now owns 740,798 shares of the bank’s stock worth $9,935,000 after buying an additional 472,300 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

Shares of FNB opened at $17.84 on Tuesday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. F.N.B. Corporation has a fifty-two week low of $10.88 and a fifty-two week high of $17.93. The firm has a 50-day simple moving average of $16.27 and a 200-day simple moving average of $15.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share for the quarter. The company had revenue of $419.30 million for the quarter. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%. On average, equities research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, December 1st. F.N.B.’s payout ratio is currently 34.53%.

Insiders Place Their Bets

In other news, insider Gary L. Guerrieri sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $17.67, for a total value of $265,050.00. Following the completion of the sale, the insider owned 279,883 shares in the company, valued at approximately $4,945,532.61. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James L. Dutey sold 40,000 shares of F.N.B. stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total transaction of $670,000.00. Following the completion of the sale, the insider directly owned 49,936 shares in the company, valued at approximately $836,428. The trade was a 44.48% decrease in their position. The SEC filing for this sale provides additional information. 1.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FNB has been the topic of several research analyst reports. Piper Sandler started coverage on F.N.B. in a research report on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 target price on the stock. DA Davidson cut shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research note on Monday, December 15th. Finally, Truist Financial raised their price objective on F.N.B. from $18.00 to $18.50 and gave the stock a “buy” rating in a report on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

About F.N.B.

F.N.B. Corporation is a bank holding company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, FNB Bank, the company provides a broad range of commercial and consumer financial services. Founded in 1864 as the First National Bank of Pennsylvania, F.N.B. has grown through both organic expansion and strategic acquisitions to become a regional banking franchise.

The company’s main business activities include traditional deposit-taking and lending services, such as checking and savings accounts, mortgages, home equity lines of credit, and consumer and commercial loans.