Charles Schwab Investment Management Inc. Boosts Stake in F.N.B. Co. (NYSE:FNB)

Charles Schwab Investment Management Inc. grew its position in shares of F.N.B. Co. (NYSE:FNB) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,940,425 shares of the bank’s stock after purchasing an additional 51,862 shares during the period. Charles Schwab Investment Management Inc.’s holdings in F.N.B. were worth $58,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FNB. Assetmark Inc. grew its holdings in shares of F.N.B. by 23.9% during the 3rd quarter. Assetmark Inc. now owns 13,117 shares of the bank’s stock worth $185,000 after acquiring an additional 2,527 shares during the period. GSA Capital Partners LLP purchased a new position in shares of F.N.B. during the 3rd quarter worth approximately $447,000. Aigen Investment Management LP purchased a new stake in shares of F.N.B. in the 3rd quarter worth approximately $339,000. MQS Management LLC bought a new position in F.N.B. during the 3rd quarter valued at approximately $438,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in F.N.B. during the 3rd quarter valued at approximately $326,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analysts Set New Price Targets

FNB has been the subject of a number of analyst reports. Raymond James raised their price objective on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler reduced their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson raised their price objective on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, F.N.B. has an average rating of “Moderate Buy” and an average target price of $18.50.

F.N.B. Stock Performance

Shares of FNB opened at $13.26 on Thursday. The business’s fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $15.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. F.N.B. Co. has a 12 month low of $12.49 and a 12 month high of $17.70. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 3.60 and a beta of 0.98.

F.N.B. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.62%. F.N.B.’s dividend payout ratio is 38.10%.

Insider Transactions at F.N.B.

In other news, Director David L. Motley sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the transaction, the director now directly owns 65,344 shares in the company, valued at $1,013,485.44. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William B. Campbell purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the purchase, the director now owns 158,834 shares in the company, valued at approximately $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.03% of the company’s stock.

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.