Corebridge Financial Inc. Lowers Holdings in F.N.B. Co. (NYSE:FNB)

Corebridge Financial Inc. lowered its position in shares of F.N.B. Co. (NYSE:FNB) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 406,854 shares of the bank’s stock after selling 18,325 shares during the quarter. Corebridge Financial Inc. owned 0.11% of F.N.B. worth $6,013,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FNB. AlphaQuest LLC raised its holdings in F.N.B. by 3,589.8% during the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock worth $27,000 after purchasing an additional 1,759 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of F.N.B. during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its holdings in shares of F.N.B. by 100.9% in the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after buying an additional 2,014 shares during the period. Sandy Spring Bank purchased a new stake in shares of F.N.B. in the fourth quarter valued at approximately $67,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in F.N.B. by 31.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock worth $65,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FNB shares. DA Davidson raised their target price on F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on shares of 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. 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 research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Insider Activity at F.N.B.

In related news, Director William B. Campbell acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the transaction, the director now owns 158,834 shares in the company, valued at $2,473,045.38. This trade represents a 1.93 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David L. Motley sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares of the company’s stock, valued at $1,013,485.44. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

F.N.B. Stock Performance

NYSE:FNB opened at $13.41 on Friday. F.N.B. Co. has a twelve month low of $12.49 and a twelve month high of $17.70. The company has a market capitalization of $4.82 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 3.60 and a beta of 0.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $14.70 and a two-hundred day moving average price of $14.95.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were given a dividend of $0.12 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.58%. F.N.B.’s dividend payout ratio is currently 38.10%.

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.