New Mexico Educational Retirement Board raised its holdings in F.N.B. Co. (NYSE:FNB – Free Report) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,600 shares of the bank’s stock after buying an additional 10,100 shares during the period. New Mexico Educational Retirement Board’s holdings in F.N.B. were worth $842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in F.N.B. in the second quarter valued at $725,000. Cardinal Capital Management raised its stake in F.N.B. by 2.0% in the second quarter. Cardinal Capital Management now owns 96,728 shares of the bank’s stock valued at $1,107,000 after buying an additional 1,893 shares in the last quarter. Paragon Capital Management Ltd raised its stake in F.N.B. by 31.1% in the second quarter. Paragon Capital Management Ltd now owns 21,587 shares of the bank’s stock valued at $247,000 after buying an additional 5,126 shares in the last quarter. SG Americas Securities LLC raised its stake in F.N.B. by 164.4% in the second quarter. SG Americas Securities LLC now owns 143,248 shares of the bank’s stock valued at $1,639,000 after buying an additional 89,072 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in F.N.B. by 14.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 46,353 shares of the bank’s stock valued at $538,000 after buying an additional 5,869 shares in the last quarter. 76.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
FNB has been the topic of several research reports. DA Davidson raised their price objective on F.N.B. from $16.00 to $17.00 in a report on Friday, July 21st. StockNews.com lowered F.N.B. from a “hold” rating to a “sell” rating in a report on Monday. Finally, Stephens reaffirmed an “overweight” rating and set a $15.00 price objective on shares of F.N.B. in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, F.N.B. has a consensus rating of “Moderate Buy” and an average target price of $15.67.
F.N.B. Stock Performance
NYSE FNB opened at $10.60 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.35. F.N.B. Co. has a 52-week low of $10.09 and a 52-week high of $14.71. The business’s 50-day moving average price is $11.66 and its 200 day moving average price is $11.54. The firm has a market cap of $3.80 billion, a P/E ratio of 6.84 and a beta of 1.09.
F.N.B. (NYSE:FNB – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $409.55 million for the quarter, compared to analyst estimates of $406.15 million. During the same quarter last year, the company posted $0.31 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, September 1st. F.N.B.’s dividend payout ratio is presently 30.97%.
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.
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