Pacer Advisors Inc. Buys Shares of 63,400 F.N.B. Co. (NYSE:FNB)

Posted by Defense World Staff on Sep 30th, 2023

Pacer Advisors Inc. acquired a new position in F.N.B. Co. (NYSE:FNB – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 63,400 shares of the bank’s stock, valued at approximately $725,000.

A number of other hedge funds have also recently made changes to their positions in FNB. BlackRock Inc. lifted its holdings in shares of F.N.B. by 13.1% in the 1st quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock worth $497,953,000 after acquiring an additional 4,625,329 shares during the last quarter. Norges Bank bought a new stake in shares of F.N.B. in the 4th quarter worth approximately $46,599,000. Vanguard Group Inc. lifted its holdings in shares of F.N.B. by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock worth $437,721,000 after acquiring an additional 3,125,650 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of F.N.B. by 535.0% in the 1st quarter. Balyasny Asset Management L.P. now owns 1,891,779 shares of the bank’s stock worth $21,945,000 after acquiring an additional 1,593,871 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of F.N.B. by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 4,325,106 shares of the bank’s stock worth $50,171,000 after acquiring an additional 1,592,460 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors.

F.N.B. Stock Up 1.5 %

Shares of NYSE FNB opened at $10.80 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $11.70 and its 200 day moving average is $11.56. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 6.96 and a beta of 1.09. F.N.B. Co. has a 52 week low of $10.09 and a 52 week high of $14.71.

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

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Friday, September 1st. F.N.B.’s payout ratio is currently 30.97%.

Wall Street Analysts Forecast Growth

FNB has been the subject of a number of recent research reports. Stephens restated an “overweight” rating and issued a $15.00 price objective on shares of F.N.B. in a report on Thursday, July 20th. DA Davidson lifted their target price on shares of F.N.B. from $16.00 to $17.00 in a research note on Friday, July 21st. Finally, StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Get Our Latest Stock Analysis on FNB

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.

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

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