KLP Kapitalforvaltning AS Takes $1.09 Million Position in F.N.B. Co. (NYSE:FNB)

KLP Kapitalforvaltning AS acquired a new position in shares of F.N.B. Co. (NYSE:FNB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 73,900 shares of the bank’s stock, valued at approximately $1,092,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC purchased a new stake in shares of F.N.B. in the 4th quarter valued at approximately $308,616,000. State Street Corp grew its position in F.N.B. by 1.9% in the third quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock worth $214,266,000 after acquiring an additional 278,825 shares during the period. Principal Financial Group Inc. grew its position in F.N.B. by 2.6% in the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock worth $69,879,000 after acquiring an additional 127,516 shares during the period. Charles Schwab Investment Management Inc. raised its position in F.N.B. by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank’s stock valued at $58,239,000 after purchasing an additional 51,862 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of F.N.B. by 5.4% in the 4th quarter. Sei Investments Co. now owns 1,435,199 shares of the bank’s stock valued at $21,212,000 after purchasing an additional 73,855 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Stock Down 2.4 %

F.N.B. stock opened at $13.41 on Monday. The firm has a market capitalization of $4.82 billion, a P/E ratio of 10.64, a P/E/G ratio of 3.60 and a beta of 0.98. 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 twelve month low of $12.49 and a twelve month high of $17.70. The stock’s fifty day simple moving average is $14.70 and its 200-day simple moving average is $14.96.

F.N.B. Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company 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 Monday, January 6th. Piper Sandler cut their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, DA Davidson lifted their price objective on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Insider Activity

In other F.N.B. news, Director William B. Campbell purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $15.57 per share, with a total value of $46,710.00. Following the acquisition, the director now directly owns 158,834 shares of the company’s stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Motley sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,013,485.44. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale 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.