Resources Investment Advisors LLC. purchased a new stake in shares of F.N.B. Co. (NYSE:FNB – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,139 shares of the bank’s stock, valued at approximately $176,000.
Other institutional investors also recently added to or reduced their stakes in the company. Allegheny Financial Group LTD bought a new position in F.N.B. during the fourth quarter valued at about $36,000. Prospera Financial Services Inc bought a new position in F.N.B. during the first quarter valued at about $46,000. Exchange Traded Concepts LLC bought a new position in F.N.B. during the first quarter valued at about $47,000. Confluence Wealth Services Inc. bought a new position in F.N.B. during the fourth quarter valued at about $51,000. Finally, Parallel Advisors LLC grew its position in F.N.B. by 40.4% during the first quarter. Parallel Advisors LLC now owns 4,578 shares of the bank’s stock valued at $59,000 after buying an additional 1,318 shares during the period. Institutional investors own 71.34% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on FNB shares. DA Davidson reaffirmed a “buy” rating on shares of F.N.B. in a report on Wednesday, July 27th. Jefferies Financial Group dropped their price objective on shares of F.N.B. from $13.00 to $12.00 in a report on Monday, July 11th. Finally, Truist Financial dropped their price objective on shares of F.N.B. from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.
F.N.B. Trading Up 1.9 %
F.N.B. (NYSE:FNB – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. F.N.B. had a net margin of 27.30% and a return on equity of 8.04%. The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $336.17 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts expect that F.N.B. Co. will post 1.29 earnings per share for the current fiscal year.
F.N.B. Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, September 1st. F.N.B.’s payout ratio is 44.04%.
F.N.B. Company Profile
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 three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
- Get a free copy of the StockNews.com research report on F.N.B. (FNB)
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