Sei Investments Co. Boosts Stake in F.N.B. Co. (NYSE:FNB)

Sei Investments Co. boosted its stake in F.N.B. Co. (NYSE:FNB) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,435,199 shares of the bank’s stock after purchasing an additional 73,855 shares during the period. Sei Investments Co.’s holdings in F.N.B. were worth $21,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC acquired a new stake in shares of F.N.B. in the fourth quarter valued at $308,616,000. State Street Corp boosted its holdings in F.N.B. by 1.9% during the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after acquiring an additional 278,825 shares during the period. Principal Financial Group Inc. grew its position in F.N.B. by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock valued at $69,879,000 after acquiring an additional 127,516 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in F.N.B. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank’s stock worth $58,239,000 after purchasing an additional 51,862 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of F.N.B. during the fourth quarter worth about $15,801,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

F.N.B. stock opened at $13.87 on Thursday. The stock has a market cap of $4.99 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 3.60 and a beta of 0.98. The company has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $14.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. F.N.B. Co. has a 12-month low of $12.49 and a 12-month high of $17.70.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.46%. F.N.B.’s dividend payout ratio is currently 38.10%.

Insider Activity

In related news, Director David L. Motley sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares of the company’s stock, valued at $1,013,485.44. This represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William B. Campbell acquired 3,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the acquisition, the director now owns 158,834 shares of the company’s stock, valued at $2,473,045.38. This represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

FNB has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler cut their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson upped their price target on F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, F.N.B. presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.