Citigroup Inc. Reduces Stake in F.N.B. Co. (NYSE:FNB)

Citigroup Inc. decreased its holdings in shares of F.N.B. Co. (NYSE:FNB) by 28.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 351,288 shares of the bank’s stock after selling 139,417 shares during the quarter. Citigroup Inc.’s holdings in F.N.B. were worth $4,957,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Diversified Trust Co grew its stake in shares of F.N.B. by 4.9% in the second quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock worth $231,000 after acquiring an additional 789 shares in the last quarter. Signaturefd LLC lifted its position in shares of F.N.B. by 16.7% during the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock worth $79,000 after buying an additional 799 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of F.N.B. by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock worth $480,000 after purchasing an additional 836 shares during the last quarter. Bank of Montreal Can lifted its stake in F.N.B. by 2.2% in the second quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock valued at $653,000 after buying an additional 1,040 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its position in F.N.B. by 100.0% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. 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, November 21st. Finally, Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, F.N.B. has a consensus rating of “Moderate Buy” and an average target price of $16.83.

F.N.B. Stock Down 1.8 %

FNB stock opened at $16.84 on Tuesday. 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. Co. has a twelve month low of $12.28 and a twelve month high of $17.70. The firm has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $14.38. The company has a market capitalization of $6.06 billion, a P/E ratio of 15.63 and a beta of 0.95.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.85%. F.N.B.’s dividend payout ratio (DPR) 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.