Assenagon Asset Management S.A. Buys 772,134 Shares of F.N.B. Co. (NYSE:FNB)

Assenagon Asset Management S.A. boosted its position in shares of F.N.B. Co. (NYSE:FNB) by 490.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 929,683 shares of the bank’s stock after acquiring an additional 772,134 shares during the period. Assenagon Asset Management S.A.’s holdings in F.N.B. were worth $13,741,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FNB. Kathleen S. Wright Associates Inc. acquired a new stake in shares of F.N.B. during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group acquired a new stake in F.N.B. during the third quarter worth $31,000. Richardson Financial Services Inc. increased its holdings in F.N.B. by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after buying an additional 1,473 shares during the period. UMB Bank n.a. raised its stake in shares of F.N.B. by 82.3% in the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after buying an additional 1,665 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of F.N.B. by 100.9% during the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after acquiring an additional 2,014 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FNB. Raymond James increased their price target on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Stephens boosted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Insider Activity

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the transaction, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.22% of the stock is owned by insiders.

F.N.B. Trading Up 1.8 %

Shares of FNB opened at $15.61 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.41 and a beta of 1.01. The stock has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $14.83. F.N.B. Co. has a 52-week low of $12.49 and a 52-week high of $17.70.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. Analysts predict that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were given a dividend of $0.12 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.07%. F.N.B.’s payout ratio is 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.