Mutual of America Capital Management LLC Cuts Holdings in F.N.B. Co. (NYSE:FNB)

Mutual of America Capital Management LLC reduced its position in shares of F.N.B. Co. (NYSE:FNB) by 5.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 194,331 shares of the bank’s stock after selling 11,644 shares during the period. Mutual of America Capital Management LLC’s holdings in F.N.B. were worth $2,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in F.N.B. by 181.6% during the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after purchasing an additional 1,964,884 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of F.N.B. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after buying an additional 647,335 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of F.N.B. during the 3rd quarter valued at approximately $3,292,000. Choreo LLC acquired a new stake in F.N.B. in the 2nd quarter valued at $2,802,000. Finally, Assenagon Asset Management S.A. acquired a new stake in F.N.B. in the 3rd quarter valued at $2,223,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Stock Up 2.3 %

Shares of NYSE FNB opened at $17.15 on Friday. The stock has a market cap of $6.17 billion, a PE ratio of 15.73 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. F.N.B. Co. has a 12-month low of $11.55 and a 12-month high of $17.19. The company has a 50-day moving average of $14.81 and a 200 day moving average of $14.27.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, sell-side analysts predict that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

Analysts Set New Price Targets

FNB has been the topic of several recent analyst reports. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Stephens boosted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Raymond James raised their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, F.N.B. currently has an average rating of “Moderate Buy” and an average target price of $16.83.

F.N.B. Profile

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.