First Citizens Bank & Trust Co. Acquires 27,030 Shares of F.N.B. Co. (NYSE:FNB)

First Citizens Bank & Trust Co. raised its holdings in shares of F.N.B. Co. (NYSE:FNB) by 110.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,437 shares of the bank’s stock after acquiring an additional 27,030 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in F.N.B. were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FNB. Stratos Wealth Partners LTD. bought a new position in shares of F.N.B. during the 4th quarter worth approximately $170,000. Empowered Funds LLC bought a new position in shares of F.N.B. during the 4th quarter worth approximately $156,000. Savant Capital LLC grew its stake in shares of F.N.B. by 1.4% during the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank’s stock worth $770,000 after acquiring an additional 708 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of F.N.B. during the 4th quarter worth approximately $863,000. Finally, Congress Asset Management Co. grew its stake in shares of F.N.B. by 4.7% during the 4th quarter. Congress Asset Management Co. now owns 168,344 shares of the bank’s stock worth $2,488,000 after acquiring an additional 7,570 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of F.N.B. in a research note on Tuesday, May 13th. They set a “buy” rating and a $16.50 price target for the company. DA Davidson reissued a “buy” rating and issued a $19.00 target price on shares of F.N.B. in a research note on Thursday, April 17th. Keefe, Bruyette & Woods raised shares of F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 target price for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company decreased their target price on shares of F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, F.N.B. currently has an average rating of “Buy” and a consensus price target of $17.57.

F.N.B. Price Performance

NYSE:FNB opened at $14.26 on Wednesday. F.N.B. Co. has a 1-year low of $10.88 and a 1-year 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. The firm has a fifty day simple moving average of $13.33 and a 200 day simple moving average of $14.42. The stock has a market capitalization of $5.13 billion, a PE ratio of 11.31, a P/E/G ratio of 3.60 and a beta of 0.91.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. The business had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. During the same quarter last year, the firm posted $0.34 EPS. On average, research analysts expect that F.N.B. Co. will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, June 2nd. F.N.B.’s dividend payout ratio is 38.10%.

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.