F.N.B. Co. (NYSE:FNB) Sees Significant Drop in Short Interest

F.N.B. Co. (NYSE:FNB) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 6,870,000 shares, a decrease of 9.4% from the November 15th total of 7,580,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FNB. Keefe, Bruyette & Woods boosted their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James lifted their target price on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Stephens raised their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.67.

Insider Activity

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,652,229 shares of the company’s stock, valued at $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Hedge funds have recently modified their holdings of the stock. Kathleen S. Wright Associates Inc. acquired a new position in F.N.B. during the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of F.N.B. in the 3rd quarter valued at $31,000. Richardson Financial Services Inc. raised its stake in F.N.B. by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after acquiring an additional 1,473 shares during the last quarter. UMB Bank n.a. lifted its position in F.N.B. by 82.3% during the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after acquiring an additional 1,665 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in F.N.B. by 31.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Stock Down 2.6 %

FNB stock traded down $0.42 during trading on Tuesday, reaching $15.41. 3,303,686 shares of the company traded hands, compared to its average volume of 2,223,474. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 14.13 and a beta of 0.99. 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 business has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $14.58. F.N.B. has a 12 month low of $12.49 and a 12 month high of $17.70.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. On average, equities research analysts anticipate that F.N.B. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.12%. The ex-dividend date was Monday, December 2nd. F.N.B.’s dividend payout ratio is presently 44.04%.

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.