Short Interest in F.N.B. Co. (NYSE:FNB) Drops By 5.9%

F.N.B. Co. (NYSE:FNB) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 7,360,000 shares, a drop of 5.9% from the August 15th total of 7,820,000 shares. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analyst Weigh In

FNB has been the subject of several research reports. Piper Sandler increased their price objective on shares of F.N.B. from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 19th. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research note on Wednesday, June 26th. Finally, Stephens reiterated an “overweight” rating and set a $16.00 target price on shares of F.N.B. in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, F.N.B. currently has an average rating of “Moderate Buy” and an average price target of $15.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNB. Diversified Trust Co lifted its stake in shares of F.N.B. by 4.9% during the 2nd quarter. Diversified Trust Co now owns 16,852 shares of the bank’s stock worth $231,000 after acquiring an additional 789 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of F.N.B. by 3.4% during the fourth quarter. Advisory Services Network LLC now owns 24,594 shares of the bank’s stock valued at $339,000 after purchasing an additional 813 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of F.N.B. by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 35,067 shares of the bank’s stock valued at $480,000 after purchasing an additional 836 shares during the period. Bank of Montreal Can grew its holdings in shares of F.N.B. by 2.2% in the second quarter. Bank of Montreal Can now owns 47,679 shares of the bank’s stock worth $653,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Alaska Permanent Fund Corp increased its stake in F.N.B. by 0.5% in the 1st quarter. Alaska Permanent Fund Corp now owns 195,731 shares of the bank’s stock worth $2,760,000 after buying an additional 1,050 shares during the period. Institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Performance

NYSE FNB opened at $14.20 on Wednesday. The business’s 50 day moving average price is $14.39 and its 200-day moving average price is $13.82. F.N.B. has a fifty-two week low of $10.24 and a fifty-two week high of $15.65. The company has a market cap of $5.11 billion, a P/E ratio of 11.45, a P/E/G ratio of 9.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $403.81 million for the quarter, compared to the consensus estimate of $408.14 million. F.N.B. had a net margin of 18.27% and a return on equity of 9.04%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Sell-side analysts predict that F.N.B. will post 1.38 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Thursday, September 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, September 5th. F.N.B.’s payout ratio is currently 38.71%.

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.