Fulton Bank N.A. Purchases 13,405 Shares of F.N.B. Co. (NYSE:FNB)

Fulton Bank N.A. grew its position in shares of F.N.B. Co. (NYSE:FNB) by 83.7% in the second quarter, Holdings Channel reports. The fund owned 29,417 shares of the bank’s stock after buying an additional 13,405 shares during the quarter. Fulton Bank N.A.’s holdings in F.N.B. were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in F.N.B. by 113.8% during the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after acquiring an additional 1,764 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of F.N.B. by 253.4% in the first quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock valued at $1,311,000 after purchasing an additional 66,676 shares during the period. Cetera Investment Advisers grew its position in shares of F.N.B. by 48.2% during the 1st quarter. Cetera Investment Advisers now owns 128,089 shares of the bank’s stock worth $1,806,000 after buying an additional 41,665 shares in the last quarter. LRI Investments LLC bought a new stake in shares of F.N.B. in the 1st quarter valued at about $45,000. Finally, EMC Capital Management raised its stake in F.N.B. by 27.0% in the first quarter. EMC Capital Management now owns 25,473 shares of the bank’s stock worth $359,000 after buying an additional 5,412 shares in the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Stock Performance

FNB stock traded up $0.01 during midday trading on Wednesday, reaching $13.50. The stock had a trading volume of 1,222,949 shares, compared to its average volume of 2,257,480. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a fifty day simple moving average of $13.86 and a two-hundred day simple moving average of $13.66. The stock has a market cap of $4.86 billion, a PE ratio of 10.91, a P/E/G ratio of 10.54 and a beta of 0.98. F.N.B. Co. has a 52-week low of $10.24 and a 52-week high of $15.65.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). F.N.B. had a return on equity of 9.04% and a net margin of 18.27%. The business had revenue of $403.81 million during the quarter, compared to analyst estimates of $408.14 million. During the same quarter last year, the company posted $0.39 EPS. F.N.B.’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that F.N.B. Co. will post 1.39 EPS for the current year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Thursday, September 5th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.56%. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FNB shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.00 price target on shares of F.N.B. in a report on Wednesday, June 26th. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, May 27th. Piper Sandler upped their price target on F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price objective on F.N.B. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Stephens reiterated an “overweight” rating and issued a $16.00 price target on shares of F.N.B. in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.29.

F.N.B. 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.