Stieven Capital Advisors L.P. Sells 411,200 Shares of F.N.B. Co. (NYSE:FNB)

Stieven Capital Advisors L.P. cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 35.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 762,691 shares of the bank’s stock after selling 411,200 shares during the period. F.N.B. comprises approximately 2.0% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 19th biggest position. Stieven Capital Advisors L.P. owned 0.21% of F.N.B. worth $10,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in F.N.B. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after purchasing an additional 647,335 shares during the last quarter. Principal Financial Group Inc. lifted its stake in F.N.B. by 2.6% during the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock worth $69,879,000 after purchasing an additional 127,516 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in F.N.B. by 2.8% during the third quarter. Thrivent Financial for Lutherans now owns 4,818,228 shares of the bank’s stock worth $67,986,000 after purchasing an additional 130,972 shares during the last quarter. AQR Capital Management LLC lifted its stake in F.N.B. by 181.6% during the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after purchasing an additional 1,964,884 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in F.N.B. by 2.9% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,461,258 shares of the bank’s stock worth $19,990,000 after purchasing an additional 41,610 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNB. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Stephens increased their price target on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, F.N.B. has an average rating of “Moderate Buy” and an average target price of $16.33.

F.N.B. Stock Performance

NYSE FNB opened at $16.53 on Friday. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 15.17 and a beta of 0.95. F.N.B. Co. has a twelve month low of $11.55 and a twelve month high of $16.97. The stock has a fifty day simple moving average of $14.54 and a 200 day simple moving average of $14.17. 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 analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. Sell-side analysts expect that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.90%. F.N.B.’s payout ratio is 44.04%.

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.