Hsbc Holdings PLC Trims Stock Holdings in F.N.B. Co. (NYSE:FNB)

Hsbc Holdings PLC lowered its position in shares of F.N.B. Co. (NYSE:FNB) by 68.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 35,045 shares of the bank’s stock after selling 76,670 shares during the quarter. Hsbc Holdings PLC’s holdings in F.N.B. were worth $478,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its holdings in F.N.B. by 706.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,208,076 shares of the bank’s stock valued at $16,635,000 after acquiring an additional 1,058,293 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of F.N.B. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock valued at $303,361,000 after purchasing an additional 647,335 shares during the period. Choreo LLC purchased a new stake in F.N.B. during the second quarter worth $2,802,000. Rafferty Asset Management LLC grew its position in F.N.B. by 61.3% during the fourth quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock valued at $7,374,000 after buying an additional 203,429 shares during the period. Finally, Vanguard Group Inc. grew its position in F.N.B. by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 39,346,808 shares of the bank’s stock valued at $541,806,000 after buying an additional 156,120 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Trading Down 3.9 %

Shares of FNB stock opened at $13.56 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. F.N.B. Co. has a twelve month low of $10.24 and a twelve month high of $15.65. The company’s 50-day moving average price is $14.27 and its 200-day moving average price is $13.86. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 10.27 and a beta of 0.96.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $403.81 million during the quarter, compared to analysts’ expectations of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. As a group, equities analysts predict that F.N.B. Co. will post 1.38 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.48 dividend on an annualized basis and a yield of 3.54%. F.N.B.’s dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

FNB has been the subject of a number of analyst reports. StockNews.com downgraded shares of F.N.B. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Stephens reiterated an “overweight” rating and set a $16.00 price target on shares of F.N.B. in a research report on Thursday, July 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a report on Wednesday, June 26th. Finally, Piper Sandler upped their target price on F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, F.N.B. presently has a consensus rating of “Moderate Buy” and an average target price of $15.29.

F.N.B. 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.