PL Capital Advisors LLC Invests $20.88 Million in F.N.B. Co. (NYSE:FNB)

PL Capital Advisors LLC bought a new stake in F.N.B. Co. (NYSE:FNB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,412,765 shares of the bank’s stock, valued at approximately $20,881,000. F.N.B. accounts for 7.1% of PL Capital Advisors LLC’s holdings, making the stock its 6th largest position. PL Capital Advisors LLC owned approximately 0.39% of F.N.B. at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jane Street Group LLC increased its position in F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock valued at $5,038,000 after buying an additional 316,515 shares in the last quarter. Oak Thistle LLC grew its position in F.N.B. by 117.7% in the 4th quarter. Oak Thistle LLC now owns 95,737 shares of the bank’s stock valued at $1,415,000 after purchasing an additional 51,763 shares during the period. Stifel Financial Corp increased its stake in F.N.B. by 6.6% during the 3rd quarter. Stifel Financial Corp now owns 28,669 shares of the bank’s stock valued at $405,000 after purchasing an additional 1,768 shares in the last quarter. Petiole USA ltd raised its holdings in F.N.B. by 48.1% during the third quarter. Petiole USA ltd now owns 175,421 shares of the bank’s stock worth $2,475,000 after buying an additional 57,000 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of F.N.B. in the third quarter valued at $447,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William B. Campbell purchased 3,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the acquisition, the director now owns 158,834 shares of the company’s stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. 1.03% of the stock is currently owned by insiders.

F.N.B. Trading Down 0.7 %

NYSE:FNB opened at $14.53 on Wednesday. The firm’s 50 day moving average is $15.17 and its 200 day moving average is $15.05. F.N.B. Co. has a 12 month low of $12.49 and a 12 month high of $17.70. The stock has a market capitalization of $5.22 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 3.60 and a beta of 1.01. 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. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.30%. F.N.B.’s payout ratio is 38.10%.

Analyst Ratings Changes

A number of research firms recently weighed in on FNB. Piper Sandler lowered their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Raymond James lifted their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. DA Davidson increased their price target on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. 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 report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.50.

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.