Amalgamated Bank Reduces Holdings in F.N.B. Co. (NYSE:FNB)

Amalgamated Bank lowered its position in F.N.B. Co. (NYSE:FNB) by 23.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 171,414 shares of the bank’s stock after selling 53,599 shares during the quarter. Amalgamated Bank’s holdings in F.N.B. were worth $2,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ceredex Value Advisors LLC raised its position in shares of F.N.B. by 13.9% in the third quarter. Ceredex Value Advisors LLC now owns 964,974 shares of the bank’s stock valued at $13,616,000 after purchasing an additional 118,100 shares during the period. Nisa Investment Advisors LLC grew its stake in F.N.B. by 15.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 142,340 shares of the bank’s stock valued at $2,008,000 after buying an additional 19,100 shares in the last quarter. Richardson Financial Services Inc. raised its holdings 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 valued at $41,000 after acquiring an additional 1,473 shares during the period. State of Alaska Department of Revenue lifted its position in shares of F.N.B. by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 41,581 shares of the bank’s stock worth $586,000 after acquiring an additional 2,830 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of F.N.B. by 7.5% in the third quarter. GHP Investment Advisors Inc. now owns 102,218 shares of the bank’s stock worth $1,442,000 after acquiring an additional 7,139 shares during the period. 79.25% of the stock is currently owned by institutional investors.

F.N.B. Price Performance

Shares of NYSE FNB opened at $16.78 on Tuesday. The stock’s 50-day simple moving average is $14.37 and its two-hundred day simple moving average is $14.09. F.N.B. Co. has a twelve month low of $11.01 and a twelve month high of $16.84. The firm has a market capitalization of $6.03 billion, a P/E ratio of 15.39 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.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company 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%. As a group, equities analysts anticipate that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FNB. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Stephens upped their price target on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.33.

F.N.B. Company 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.