Los Angeles Capital Management LLC Cuts Holdings in F.N.B. Co. (NYSE:FNB)

Los Angeles Capital Management LLC cut its holdings in F.N.B. Co. (NYSE:FNB) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,469 shares of the bank’s stock after selling 1,370 shares during the quarter. Los Angeles Capital Management LLC’s holdings in F.N.B. were worth $204,000 as of its most recent SEC filing.

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

F.N.B. Trading Down 0.2 %

F.N.B. stock opened at $16.49 on Tuesday. The stock has a market cap of $5.93 billion, a PE ratio of 15.13 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $14.59 and a 200 day moving average price of $14.19. F.N.B. Co. has a 52 week low of $11.55 and a 52 week high of $16.97.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. Equities research analysts predict that F.N.B. Co. will post 1.34 earnings per share 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is presently 44.04%.

Analysts Set New Price Targets

A number of analysts have commented on FNB shares. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Stephens increased their price objective 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. Finally, StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Two 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

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.