Assenagon Asset Management S.A. Has $13.74 Million Stock Holdings in F.N.B. Co. (NYSE:FNB)

Assenagon Asset Management S.A. increased its holdings in shares of F.N.B. Co. (NYSE:FNB) by 490.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 929,683 shares of the bank’s stock after buying an additional 772,134 shares during the quarter. Assenagon Asset Management S.A. owned 0.26% of F.N.B. worth $13,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in F.N.B. by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after acquiring an additional 1,964,884 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of F.N.B. during the third quarter worth approximately $14,190,000. Jane Street Group LLC grew its position in F.N.B. by 780.7% during the third quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock valued at $5,038,000 after purchasing an additional 316,515 shares in the last quarter. State Street Corp increased its stake in F.N.B. by 1.9% in the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after buying an additional 278,825 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in F.N.B. in the 3rd quarter worth approximately $3,292,000. 79.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FNB shares. Raymond James upped 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 note on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stephens increased their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company reduced their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

F.N.B. Stock Up 1.8 %

Shares of FNB stock opened at $15.61 on Friday. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $14.83. F.N.B. Co. has a twelve month low of $12.49 and a twelve month high of $17.70. 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 capitalization of $5.61 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.41 and a beta of 1.01.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 EPS 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 the consensus estimate of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, research analysts predict that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Monday, December 2nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 3.07%. F.N.B.’s dividend payout ratio (DPR) is presently 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.