Deerfield Management Company L.P. Series C Buys Shares of 19,421 F.N.B. Co. (NYSE:FNB)

Deerfield Management Company L.P. Series C purchased a new position in shares of F.N.B. Co. (NYSE:FNB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,421 shares of the bank’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also modified their holdings of FNB. Rafferty Asset Management LLC increased its holdings in F.N.B. by 61.3% during the 4th quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock valued at $7,374,000 after acquiring an additional 203,429 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of F.N.B. during the 2nd quarter worth approximately $920,000. Sei Investments Co. raised its position in shares of F.N.B. by 5.8% during the 1st quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock worth $18,909,000 after purchasing an additional 73,016 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in F.N.B. in the 1st quarter valued at approximately $600,000. Finally, Public Employees Retirement Association of Colorado grew its holdings in F.N.B. by 706.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,208,076 shares of the bank’s stock valued at $16,635,000 after buying an additional 1,058,293 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

FNB has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $16.00 price target on shares of F.N.B. in a report on Thursday, July 18th. StockNews.com cut F.N.B. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.00 target price on shares of F.N.B. in a report on Wednesday, June 26th. Finally, Piper Sandler lifted their price target on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.29.

F.N.B. Price Performance

F.N.B. stock opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 10.27 and a beta of 0.96. F.N.B. Co. has a 1 year low of $10.24 and a 1 year high of $15.65. The firm has a 50 day moving average price of $14.32 and a 200 day moving average price of $13.85.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). F.N.B. had a return on equity of 9.04% and a net margin of 18.27%. The firm had revenue of $403.81 million for the quarter, compared to analyst estimates of $408.14 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts predict that F.N.B. Co. will post 1.38 earnings per share for the current year.

F.N.B. Announces Dividend

The company 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. This represents a $0.48 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, September 5th. F.N.B.’s dividend payout ratio is currently 38.71%.

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.