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

Basswood Capital Management L.L.C. cut its holdings in shares of F.N.B. Co. (NYSE:FNB) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,722,203 shares of the bank’s stock after selling 418,662 shares during the quarter. F.N.B. comprises 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. owned approximately 0.48% of F.N.B. worth $25,454,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in F.N.B. by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 39,416,478 shares of the bank’s stock worth $582,576,000 after purchasing an additional 305,826 shares during the period. PL Capital Advisors LLC bought a new stake in F.N.B. during the fourth quarter worth about $308,616,000. Geode Capital Management LLC grew its position in F.N.B. by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 5,961,104 shares of the bank’s stock worth $88,133,000 after acquiring an additional 21,325 shares during the last quarter. First Trust Advisors LP increased its stake in shares of F.N.B. by 76.8% in the fourth quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank’s stock valued at $77,349,000 after buying an additional 2,273,736 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

Shares of FNB opened at $13.69 on Friday. The company’s fifty day simple moving average is $13.16 and its 200 day simple moving average is $14.69. F.N.B. Co. has a 1-year low of $10.88 and a 1-year high of $17.70. 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. 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 issued its earnings results on Wednesday, April 16th. The bank reported $0.32 EPS for the quarter, topping 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 company had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. During the same period in the previous year, the company posted $0.34 EPS. On average, research analysts forecast that F.N.B. Co. will post 1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David L. Motley sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the sale, the director now 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 filing with the SEC, which is available through the SEC website. Also, Director William B. Campbell acquired 3,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the acquisition, the director now directly owns 158,834 shares in the company, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. DA Davidson restated a “buy” rating and set a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. Wells Fargo & Company decreased their price target on shares of F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Piper Sandler lowered their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised F.N.B. from a “market perform” rating to an “outperform” rating and set a $16.50 price target on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

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.