Norges Bank Takes $50.21 Million Position in F.N.B. Co. (NYSE:FNB)

Norges Bank bought a new position in F.N.B. Co. (NYSE:FNB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,396,809 shares of the bank’s stock, valued at approximately $50,205,000. Norges Bank owned about 0.94% of F.N.B. as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its stake in shares of F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock worth $27,000 after buying an additional 1,759 shares during the last quarter. Versant Capital Management Inc raised its holdings in F.N.B. by 100.9% in the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after acquiring an additional 2,014 shares during the period. Sandy Spring Bank acquired a new position in F.N.B. during the 4th quarter worth $67,000. Nomura Asset Management Co. Ltd. lifted its position 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 worth $65,000 after acquiring an additional 1,100 shares during the last quarter. Finally, R Squared Ltd bought a new stake in F.N.B. during the fourth quarter valued at about $69,000. Institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

Shares of FNB stock opened at $11.46 on Friday. F.N.B. Co. has a 12 month low of $10.93 and a 12 month high of $17.70. The company has a market capitalization of $4.12 billion, a P/E ratio of 9.09, a P/E/G ratio of 3.60 and a beta of 0.86. The stock has a 50 day moving average of $14.42 and a two-hundred day moving average of $14.91. 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 firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 4.19%. F.N.B.’s dividend payout ratio is currently 38.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FNB shares. Piper Sandler cut their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, DA Davidson increased their price objective 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Insiders Place Their Bets

In other F.N.B. news, Director William B. Campbell bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost 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 approximately $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David L. Motley sold 15,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.