Victory Capital Management Inc. Sells 1,156 Shares of F.N.B. Co. (NYSE:FNB)

Victory Capital Management Inc. reduced its stake in F.N.B. Co. (NYSE:FNB) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,124 shares of the bank’s stock after selling 1,156 shares during the period. Victory Capital Management Inc.’s holdings in F.N.B. were worth $1,751,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FNB. Aigen Investment Management LP bought a new stake in shares of F.N.B. in the third quarter worth approximately $339,000. GSA Capital Partners LLP purchased a new stake in F.N.B. during the 3rd quarter valued at $447,000. Assetmark Inc. lifted 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 valued at $185,000 after buying an additional 2,527 shares during the period. Easterly Investment Partners LLC boosted its stake in shares of F.N.B. by 11.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 905,662 shares of the bank’s stock worth $12,779,000 after buying an additional 93,447 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of 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. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Trading Up 2.3 %

FNB stock opened at $17.15 on Monday. The firm’s fifty day simple moving average is $14.81 and its two-hundred day simple moving average is $14.27. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 15.73 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. F.N.B. Co. has a twelve month low of $11.55 and a twelve month high of $17.19.

F.N.B. (NYSE:FNB) last posted 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). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The company had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. As a group, analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FNB shares. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stephens upped their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Finally, Raymond James increased their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, F.N.B. currently has a consensus rating of “Moderate Buy” and an average price target of $16.83.

About F.N.B.

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.