Basswood Capital Management L.L.C. Sells 418,662 Shares of F.N.B. Co. (NYSE:FNB)

Basswood Capital Management L.L.C. reduced its stake in F.N.B. Co. (NYSE:FNB) by 19.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,722,203 shares of the bank’s stock after selling 418,662 shares during the quarter. F.N.B. accounts for about 1.5% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 20th largest holding. Basswood Capital Management L.L.C.’s holdings in F.N.B. were worth $25,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. PL Capital Advisors LLC acquired a new position in shares of F.N.B. in the fourth quarter valued at approximately $308,616,000. Norges Bank acquired a new position in F.N.B. in the fourth quarter valued at $50,205,000. First Trust Advisors LP boosted its position in shares of F.N.B. by 76.8% during the 4th quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank’s stock valued at $77,349,000 after purchasing an additional 2,273,736 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of F.N.B. during the 4th quarter worth approximately $15,801,000. Finally, Prospector Partners LLC acquired a new stake in F.N.B. in the fourth quarter worth $12,091,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Trading Up 3.3 %

Shares of F.N.B. stock opened at $13.69 on Friday. The company’s 50-day moving average price is $13.16 and its 200-day moving average price is $14.69. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 3.60 and a beta of 0.88. F.N.B. Co. has a 12-month low of $10.88 and a 12-month high of $17.70. 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. (NYSE:FNB) last released its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. The firm had revenue of $411.61 million during the quarter, compared to analyst estimates of $409.52 million. During the same period in the previous year, the business earned $0.34 EPS. On average, equities analysts expect that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FNB. Wells Fargo & Company cut their target price on F.N.B. from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. DA Davidson reaffirmed a “buy” rating and issued a $19.00 target price on shares of F.N.B. in a report on Thursday, April 17th. Keefe, Bruyette & Woods upgraded shares of F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price objective for the company in a report on Monday, April 21st. Finally, Piper Sandler dropped their price target 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Insider Buying and Selling

In other news, Director David L. Motley sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William B. Campbell purchased 3,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the purchase, the director now directly owns 158,834 shares of the company’s stock, valued at $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.37% of the stock is owned by company insiders.

F.N.B. Profile

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.