Thrivent Financial for Lutherans Has $64.12 Million Position in F.N.B. Co. (NYSE:FNB)

Thrivent Financial for Lutherans cut its stake in F.N.B. Co. (NYSE:FNB) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,687,256 shares of the bank’s stock after selling 22,626 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.30% of F.N.B. worth $64,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FNB. Norges Bank purchased a new position in F.N.B. in the fourth quarter valued at about $49,533,000. Rafferty Asset Management LLC increased its holdings in F.N.B. by 61.3% in the fourth quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock worth $7,374,000 after buying an additional 203,429 shares during the last quarter. SG Americas Securities LLC bought a new position in F.N.B. during the second quarter valued at approximately $920,000. Sei Investments Co. lifted its stake in F.N.B. by 5.8% in the first quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after acquiring an additional 73,016 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in F.N.B. in the first quarter worth approximately $600,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FNB has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $16.00 price target on shares of F.N.B. in a report on Thursday, July 18th. Piper Sandler raised their target price on F.N.B. from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 19th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and an average target price of $15.29.

F.N.B. Stock Down 1.9 %

FNB stock opened at $14.31 on Friday. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 9.98 and a beta of 0.96. The company has a 50-day moving average of $14.41 and a two-hundred day moving average of $13.84. F.N.B. Co. has a 52-week low of $10.24 and a 52-week high of $15.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91.

F.N.B. (NYSE:FNB) last announced its earnings results on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $403.81 million for the quarter, compared to the consensus estimate of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. F.N.B.’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, equities research analysts anticipate that F.N.B. Co. will post 1.38 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Thursday, September 5th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.35%. F.N.B.’s payout ratio is 38.71%.

About F.N.B.

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.