Cornercap Investment Counsel Inc. Cuts Stake in F.N.B. Co. (NYSE:FNB)

Cornercap Investment Counsel Inc. lessened its stake in F.N.B. Co. (NYSE:FNB) by 72.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,606 shares of the bank’s stock after selling 47,994 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in F.N.B. were worth $263,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MQS Management LLC bought a new stake in shares of F.N.B. in the third quarter worth $438,000. Aigen Investment Management LP bought a new stake in F.N.B. in the third quarter valued at about $339,000. GSA Capital Partners LLP bought a new position in F.N.B. during the 3rd quarter worth approximately $447,000. Assetmark Inc. lifted its stake in F.N.B. by 23.9% during the third quarter. Assetmark Inc. now owns 13,117 shares of the bank’s stock worth $185,000 after purchasing an additional 2,527 shares during the last quarter. Finally, Easterly Investment Partners LLC raised its holdings in shares of F.N.B. by 11.5% during the third quarter. Easterly Investment Partners LLC now owns 905,662 shares of the bank’s stock worth $12,779,000 after purchasing an additional 93,447 shares during the period. 79.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FNB has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note 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 stock an “overweight” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, F.N.B. currently has an average rating of “Moderate Buy” and an average target price of $16.33.

F.N.B. Stock Down 0.2 %

NYSE FNB opened at $16.49 on Tuesday. The company has a market capitalization of $5.93 billion, a P/E ratio of 15.13 and a beta of 0.95. F.N.B. Co. has a 12 month low of $11.55 and a 12 month high of $16.97. The company’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $14.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92.

F.N.B. (NYSE:FNB) last issued its quarterly 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). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The firm had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. Equities research analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

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 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 payout ratio is presently 44.04%.

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.