Brandywine Global Investment Management LLC Sells 31,322 Shares of F.N.B. Corporation (NYSE:FNB)

Brandywine Global Investment Management LLC reduced its stake in F.N.B. Corporation (NYSE:FNB) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 803,462 shares of the bank’s stock after selling 31,322 shares during the period. Brandywine Global Investment Management LLC’s holdings in F.N.B. were worth $10,807,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FNB. McClarren Financial Advisors Inc. bought a new position in shares of F.N.B. during the first quarter valued at approximately $28,000. Parallel Advisors LLC boosted its stake in shares of F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after purchasing an additional 995 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of F.N.B. during the first quarter valued at approximately $42,000. Meeder Asset Management Inc. boosted its stake in shares of F.N.B. by 233.5% during the first quarter. Meeder Asset Management Inc. now owns 3,445 shares of the bank’s stock valued at $46,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of F.N.B. during the first quarter valued at approximately $47,000. 79.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FNB. DA Davidson increased their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Truist Financial increased their price objective on shares of F.N.B. from $17.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. Wells Fargo & Company increased their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a research report on Monday, July 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.64.

F.N.B. Trading Down 1.6%

NYSE:FNB opened at $15.72 on Friday. F.N.B. Corporation has a 52 week low of $10.88 and a 52 week high of $17.70. The firm has a 50 day moving average of $15.07 and a 200 day moving average of $14.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.90 and a beta of 0.94.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $438.21 million during the quarter, compared to analysts’ expectations of $424.39 million. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. During the same quarter last year, the company posted $0.34 earnings per share. As a group, sell-side analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.1%. F.N.B.’s dividend payout ratio (DPR) is currently 37.50%.

F.N.B. Company 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.