Fmr LLC Has $160.93 Million Stake in F.N.B. Corp (FNB)
Fmr LLC decreased its holdings in shares of F.N.B. Corp (NYSE:FNB) by 24.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,651,616 shares of the bank’s stock after selling 4,135,574 shares during the quarter. Fmr LLC’s holdings in F.N.B. were worth $160,929,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of FNB. Victory Capital Management Inc. boosted its holdings in shares of F.N.B. by 433.2% during the second quarter. Victory Capital Management Inc. now owns 4,088,768 shares of the bank’s stock worth $54,871,000 after purchasing an additional 3,321,888 shares during the last quarter. Macquarie Group Ltd. acquired a new position in F.N.B. in the second quarter valued at $39,646,000. Bank of America Corp DE boosted its holdings 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 acquiring an additional 2,380,341 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings 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 acquiring an additional 1,962,895 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in F.N.B. by 64.7% in the second quarter. Segall Bryant & Hamill LLC now owns 4,541,608 shares of the bank’s stock valued at $60,948,000 after acquiring an additional 1,783,871 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.
Shares of F.N.B. stock opened at $11.25 on Friday. F.N.B. Corp has a twelve month low of $11.03 and a twelve month high of $14.91. The firm has a market capitalization of $3.74 billion, a P/E ratio of 12.10, a PEG ratio of 1.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Monday, December 3rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, November 30th. F.N.B.’s payout ratio is currently 51.61%.
In related news, insider Barry C. Robinson acquired 2,500 shares of the business’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $11.21 per share, with a total value of $28,025.00. Following the completion of the transaction, the insider now directly owns 36,552 shares of the company’s stock, valued at approximately $409,747.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Vincent J. Delie, Jr. acquired 6,500 shares of the business’s stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $11.21 per share, for a total transaction of $72,865.00. Following the completion of the transaction, the chairman now directly owns 262,829 shares of the company’s stock, valued at $2,946,313.09. The disclosure for this purchase can be found here. Insiders acquired 22,500 shares of company stock worth $257,895 over the last three months. 0.63% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on FNB shares. Zacks Investment Research cut F.N.B. from a “hold” rating to a “sell” rating in a report on Friday, October 5th. ValuEngine upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Wells Fargo & Co set a $15.00 target price on F.N.B. and gave the company a “buy” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. F.N.B. currently has a consensus rating of “Hold” and a consensus price target of $16.33.
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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