MQS Management LLC Invests $438,000 in F.N.B. Co. (NYSE:FNB)

MQS Management LLC purchased a new stake in F.N.B. Co. (NYSE:FNB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,044 shares of the bank’s stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNB. Dimensional Fund Advisors LP boosted its position in shares of F.N.B. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after buying an additional 647,335 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of F.N.B. by 2.6% in the third quarter. Principal Financial Group Inc. now owns 4,952,429 shares of the bank’s stock valued at $69,879,000 after purchasing an additional 127,516 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of F.N.B. by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after purchasing an additional 1,964,884 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of F.N.B. by 2.9% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,461,258 shares of the bank’s stock worth $19,990,000 after purchasing an additional 41,610 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in F.N.B. by 1.8% in the 2nd quarter. Sei Investments Co. now owns 1,365,518 shares of the bank’s stock valued at $18,680,000 after buying an additional 24,474 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FNB. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stephens boosted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

F.N.B. Price Performance

F.N.B. stock opened at $16.66 on Thursday. 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 company has a market cap of $5.99 billion, a price-to-earnings ratio of 15.28 and a beta of 0.95. F.N.B. Co. has a 1 year low of $11.51 and a 1 year high of $16.97. The firm has a 50 day moving average price of $14.45 and a 200 day moving average price of $14.13.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The firm had revenue of $413.02 million for the quarter, compared to analyst estimates of $409.80 million. Sell-side analysts predict that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be issued a $0.12 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. F.N.B.’s dividend payout ratio (DPR) is 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.