F.N.B. Co. (NYSE:FNB) Sees Large Decrease in Short Interest

F.N.B. Co. (NYSE:FNB) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 7,360,000 shares, a decline of 5.9% from the August 15th total of 7,820,000 shares. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNB. LRI Investments LLC purchased a new stake in F.N.B. in the 1st quarter valued at about $45,000. GAMMA Investing LLC grew its holdings in F.N.B. by 113.8% in the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,764 shares during the period. Blue Trust Inc. increased its position in F.N.B. by 19.7% during the second quarter. Blue Trust Inc. now owns 9,042 shares of the bank’s stock worth $127,000 after purchasing an additional 1,486 shares during the last quarter. Hart & Patterson Financial Group LLC purchased a new position in F.N.B. during the fourth quarter worth approximately $140,000. Finally, CIBC Asset Management Inc acquired a new position in shares of F.N.B. in the 2nd quarter valued at $140,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FNB shares. Stephens reissued an “overweight” rating and set a $16.00 price target on shares of F.N.B. in a report on Thursday, July 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research report on Wednesday, June 26th. Piper Sandler upped their price objective on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday. 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 $15.29.

F.N.B. Stock Performance

NYSE:FNB opened at $14.24 on Thursday. The firm’s fifty day simple moving average is $14.41 and its 200-day simple moving average is $13.83. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.12 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 9.98 and a beta of 0.97. F.N.B. has a fifty-two week low of $10.24 and a fifty-two week high of $15.65.

F.N.B. (NYSE:FNB) last posted its 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 analyst estimates of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Analysts expect that F.N.B. will post 1.38 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, September 5th. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

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.