Quantinno Capital Management LP Reduces Position in F.N.B. Co. (NYSE:FNB)

Posted by on Aug 1st, 2023

Quantinno Capital Management LP decreased its holdings in F.N.B. Co. (NYSE:FNB – Free Report) by 48.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,227 shares of the bank’s stock after selling 37,542 shares during the period. Quantinno Capital Management LP’s holdings in F.N.B. were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Harvest Fund Management Co. Ltd lifted its holdings in F.N.B. by 22.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,797 shares of the bank’s stock valued at $63,000 after acquiring an additional 883 shares during the period. State of Michigan Retirement System boosted its position in F.N.B. by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 89,351 shares of the bank’s stock worth $1,166,000 after acquiring an additional 900 shares during the period. Allworth Financial LP raised its position in shares of F.N.B. by 24.7% during the first quarter. Allworth Financial LP now owns 4,588 shares of the bank’s stock worth $53,000 after purchasing an additional 909 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of F.N.B. by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 49,620 shares of the bank’s stock valued at $575,000 after buying an additional 965 shares during the last quarter. Finally, Smith Salley & Associates boosted its stake in F.N.B. by 8.1% during the 1st quarter. Smith Salley & Associates now owns 13,370 shares of the bank’s stock valued at $155,000 after purchasing an additional 1,004 shares during the period. 76.78% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Price Performance

Shares of NYSE FNB opened at $12.79 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.35. F.N.B. Co. has a 1 year low of $10.09 and a 1 year high of $14.71. The firm’s 50-day moving average is $11.77 and its 200-day moving average is $12.26. The firm has a market capitalization of $4.62 billion, a PE ratio of 8.25 and a beta of 1.06.

F.N.B. (NYSE:FNB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. F.N.B. had a return on equity of 10.52% and a net margin of 28.28%. The business had revenue of $409.55 million during the quarter, compared to analysts’ expectations of $406.15 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts expect that F.N.B. Co. will post 1.48 EPS for the current year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, September 1st. F.N.B.’s payout ratio is 30.97%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com began coverage on F.N.B. in a report on Thursday, May 18th. They set a “sell” rating on the stock. Stephens reiterated an “overweight” rating and set a $15.00 price objective on shares of F.N.B. in a report on Thursday, July 20th. Keefe, Bruyette & Woods cut their price target 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. Raymond James reduced their target price on F.N.B. from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. Finally, DA Davidson boosted their price objective on F.N.B. from $16.00 to $17.00 in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

F.N.B. Company Profile

(Free Report)

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.

See Also

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

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