Cornercap Investment Counsel Inc. Decreases Stock Holdings in F.N.B. Co. (NYSE:FNB)

Cornercap Investment Counsel Inc. lessened its holdings in F.N.B. Co. (NYSE:FNB) by 72.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,606 shares of the bank’s stock after selling 47,994 shares during the period. Cornercap Investment Counsel Inc.’s holdings in F.N.B. were worth $263,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in F.N.B. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after acquiring an additional 647,335 shares during the period. Principal Financial Group Inc. boosted its stake 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 valued at $69,879,000 after acquiring an additional 127,516 shares in the last quarter. 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 worth $41,045,000 after buying an additional 1,964,884 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in F.N.B. by 2.9% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,461,258 shares of the bank’s stock valued at $19,990,000 after buying an additional 41,610 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of F.N.B. by 1.8% during the second quarter. Sei Investments Co. now owns 1,365,518 shares of the bank’s stock worth $18,680,000 after acquiring an additional 24,474 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FNB shares. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Stephens upped their price target on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, F.N.B. has an average rating of “Moderate Buy” and an average target price of $16.33.

F.N.B. Stock Down 0.2 %

FNB stock opened at $16.49 on Tuesday. F.N.B. Co. has a 52 week low of $11.55 and a 52 week high of $16.97. The company has a market cap of $5.93 billion, a P/E ratio of 15.13 and a beta of 0.95. The company’s 50-day moving average price is $14.59 and its 200 day moving average price is $14.19. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share 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 analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. On average, research analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is 44.04%.

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.