Edgestream Partners L.P. Invests $1.09 Million in F.N.B. Co. (NYSE:FNB)

Edgestream Partners L.P. purchased a new position in shares of F.N.B. Co. (NYSE:FNB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 77,401 shares of the bank’s stock, valued at approximately $1,092,000.

Several other hedge funds also recently made changes to their positions in FNB. Kathleen S. Wright Associates Inc. bought a new position in shares of F.N.B. in the third quarter valued at $28,000. Brooklyn Investment Group bought a new position in shares of F.N.B. in the third quarter valued at $31,000. Richardson Financial Services Inc. grew its stake in shares of F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after buying an additional 1,473 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of F.N.B. by 113.8% in the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after buying an additional 1,764 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after buying an additional 1,665 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

FNB opened at $16.70 on Thursday. F.N.B. Co. has a fifty-two week low of $12.39 and a fifty-two week high of $17.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $6.00 billion, a P/E ratio of 15.32 and a beta of 0.99. The stock has a fifty day moving average of $15.21 and a 200-day moving average of $14.42.

F.N.B. (NYSE:FNB) last posted its earnings results 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). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The firm had revenue of $413.02 million for the quarter, compared to analyst estimates of $409.80 million. On average, equities analysts expect that F.N.B. Co. will post 1.34 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 44.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FNB. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Raymond James lifted their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

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.