Teacher Retirement System of Texas Lowers Stock Position in F.N.B. Co. (NYSE:FNB)

Posted by on Jun 8th, 2023

Teacher Retirement System of Texas reduced its stake in shares of F.N.B. Co. (NYSE:FNB – Get Rating) by 22.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,819 shares of the bank’s stock after selling 32,315 shares during the period. Teacher Retirement System of Texas’ holdings in F.N.B. were worth $1,446,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in F.N.B. by 2.0% during the 3rd quarter. BlackRock Inc. now owns 41,084,424 shares of the bank’s stock valued at $476,578,000 after purchasing an additional 821,720 shares during the period. Vanguard Group Inc. raised its stake in F.N.B. by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,982,929 shares of the bank’s stock valued at $429,003,000 after purchasing an additional 667,684 shares during the period. Dimensional Fund Advisors LP raised its stake in F.N.B. by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,174,520 shares of the bank’s stock valued at $263,277,000 after purchasing an additional 900,846 shares during the period. State Street Corp raised its stake in F.N.B. by 5.3% during the 1st quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock valued at $233,515,000 after purchasing an additional 942,178 shares during the period. Finally, Macquarie Group Ltd. raised its stake in F.N.B. by 1.5% during the 3rd quarter. Macquarie Group Ltd. now owns 11,983,401 shares of the bank’s stock valued at $139,095,000 after purchasing an additional 173,268 shares during the period. 76.07% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Trading Up 2.9 %

Shares of NYSE:FNB opened at $12.14 on Thursday. The business’s 50-day moving average is $11.23 and its 200 day moving average is $12.61. F.N.B. Co. has a 1 year low of $10.09 and a 1 year high of $14.71. The firm has a market capitalization of $4.38 billion, a P/E ratio of 8.32 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88.

F.N.B. (NYSE:FNB – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The bank reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $416.10 million for the quarter, compared to analyst estimates of $413.52 million. F.N.B. had a return on equity of 10.12% and a net margin of 29.60%. The company’s revenue was up 33.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. On average, research analysts predict that F.N.B. Co. will post 1.53 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.95%. F.N.B.’s payout ratio is 32.88%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stephens started coverage on F.N.B. in a research note on Monday, April 3rd. They set an “overweight” rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on F.N.B. from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com assumed coverage on F.N.B. in a report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Raymond James lowered their target price on F.N.B. from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

F.N.B. Profile

(Get Rating)

F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.

Featured Articles

Want to see what other hedge funds are holding FNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for F.N.B. Co. (NYSE:FNB – Get Rating).

Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

Receive News & Ratings for F.N.B. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for F.N.B. and related companies with MarketBeat.com's FREE daily email newsletter.