Teacher Retirement System of Texas Cuts Stake in F.N.B. Co. (NYSE:FNB)

Teacher Retirement System of Texas lessened its position in F.N.B. Co. (NYSE:FNB) by 27.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,260 shares of the bank’s stock after selling 32,116 shares during the period. Teacher Retirement System of Texas’ holdings in F.N.B. were worth $1,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FNB. Connor Clark & Lunn Investment Management Ltd. acquired a new position in F.N.B. during the 3rd quarter worth approximately $166,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of F.N.B. by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock valued at $54,868,000 after buying an additional 218,511 shares during the period. Cerity Partners LLC boosted its stake in shares of F.N.B. by 120.3% in the third quarter. Cerity Partners LLC now owns 56,632 shares of the bank’s stock valued at $799,000 after buying an additional 30,920 shares in the last quarter. Fisher Asset Management LLC grew its holdings in F.N.B. by 67.8% during the third quarter. Fisher Asset Management LLC now owns 97,581 shares of the bank’s stock worth $1,377,000 after acquiring an additional 39,436 shares during the period. Finally, Quantbot Technologies LP purchased a new position in F.N.B. in the third quarter worth $1,237,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at F.N.B.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson boosted their target price on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler decreased their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

F.N.B. Price Performance

Shares of NYSE FNB opened at $13.41 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $14.70 and its 200 day moving average price is $14.95. F.N.B. Co. has a 52 week low of $12.49 and a 52 week high of $17.70. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 3.60 and a beta of 0.98.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were given a $0.12 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.58%. F.N.B.’s dividend payout ratio is presently 38.10%.

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.