Assetmark Inc. Increases Stake in F.N.B. Co. (NYSE:FNB)

Assetmark Inc. boosted its stake in F.N.B. Co. (NYSE:FNB) by 23.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,117 shares of the bank’s stock after buying an additional 2,527 shares during the period. Assetmark Inc.’s holdings in F.N.B. were worth $185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of F.N.B. in the 3rd quarter worth approximately $28,000. Richardson Financial Services Inc. raised its holdings in F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after purchasing an additional 1,473 shares in the last quarter. LRI Investments LLC purchased a new position in F.N.B. during the first quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in shares of F.N.B. by 113.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after buying an additional 1,764 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of F.N.B. by 82.3% in the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after buying an additional 1,665 shares during the period. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Trading Up 0.2 %

NYSE:FNB opened at $16.53 on Friday. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 15.17 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. The company’s 50 day moving average price is $14.54 and its 200-day moving average price is $14.17. F.N.B. Co. has a 52 week low of $11.55 and a 52 week high of $16.97.

F.N.B. (NYSE:FNB) last issued its earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. On average, equities research analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 2.90%. F.N.B.’s payout ratio is 44.04%.

Analyst Ratings Changes

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

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.