Assetmark Inc. Buys 2,527 Shares of F.N.B. Co. (NYSE:FNB)

Assetmark Inc. raised its stake in shares of F.N.B. Co. (NYSE:FNB) by 23.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,117 shares of the bank’s stock after buying an additional 2,527 shares during the quarter. Assetmark Inc.’s holdings in F.N.B. were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FNB. Diversified Trust Co increased its position in F.N.B. by 4.9% during the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock valued at $231,000 after acquiring an additional 789 shares during the last quarter. Signaturefd LLC grew its stake in shares of F.N.B. by 16.7% during the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock valued at $79,000 after purchasing an additional 799 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of F.N.B. by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock valued at $480,000 after purchasing an additional 836 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of F.N.B. by 2.2% in the 2nd quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock worth $653,000 after purchasing an additional 1,040 shares during the period. Finally, Richardson Financial Services Inc. boosted its holdings in shares of F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after buying an additional 1,473 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on FNB. 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. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Finally, StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

F.N.B. Stock Up 0.2 %

Shares of FNB stock opened at $16.53 on Friday. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 15.17 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $14.54 and its 200-day moving average price is $14.17. F.N.B. Co. has a one year low of $11.55 and a one year high of $16.97.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. Sell-side analysts expect that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 2.90%. F.N.B.’s payout ratio is 44.04%.

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.