Swiss National Bank Sells 3,700 Shares of F.N.B. Co. (NYSE:FNB)

Swiss National Bank reduced its holdings in shares of F.N.B. Co. (NYSE:FNB) by 0.5% during the third quarter, HoldingsChannel reports. The firm owned 702,215 shares of the bank’s stock after selling 3,700 shares during the period. Swiss National Bank’s holdings in F.N.B. were worth $9,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its stake in F.N.B. by 2.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock valued at $67,986,000 after acquiring an additional 130,972 shares during the period. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of F.N.B. during the third quarter valued at approximately $251,000. Natixis Advisors LLC lifted its position in F.N.B. by 4.0% during the third quarter. Natixis Advisors LLC now owns 66,705 shares of the bank’s stock valued at $941,000 after purchasing an additional 2,591 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in F.N.B. in the third quarter worth approximately $326,000. Finally, MQS Management LLC bought a new stake in F.N.B. in the 3rd quarter worth approximately $438,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James increased their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Stephens upped their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.83.

F.N.B. Stock Performance

Shares of NYSE:FNB opened at $17.15 on Monday. The firm’s 50 day simple moving average is $14.81 and its 200-day simple moving average is $14.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a one year low of $11.55 and a one year high of $17.19. The firm has a market cap of $6.17 billion, a PE ratio of 15.73 and a beta of 0.95.

F.N.B. (NYSE:FNB) last announced 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). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The firm had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. As a group, equities analysts predict that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

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

F.N.B. Company 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.