Phocas Financial Corp. Sells 40,560 Shares of F.N.B. Co. (NYSE:FNB)

by · The Markets Daily

Phocas Financial Corp. reduced its stake in F.N.B. Co. (NYSE:FNB – Free Report) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,687 shares of the bank’s stock after selling 40,560 shares during the quarter. Phocas Financial Corp. owned about 0.18% of F.N.B. worth $9,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of F.N.B. during the 3rd quarter valued at $28,000. Richardson Financial Services Inc. boosted its stake in shares of F.N.B. by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,473 shares during the period. LRI Investments LLC bought a new position in shares of F.N.B. in the first quarter worth approximately $45,000. GAMMA Investing LLC increased its stake in shares of F.N.B. by 113.8% in the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after buying an additional 1,764 shares during the period. Finally, UMB Bank n.a. boosted its position in F.N.B. by 82.3% during the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after buying an additional 1,665 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on F.N.B.

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $16.49 on Tuesday. F.N.B. Co. has a 12 month low of $11.55 and a 12 month high of $16.97. The firm has a market capitalization of $5.93 billion, a P/E ratio of 15.13 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $14.19.

F.N.B. (NYSE:FNB – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate 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 business had revenue of $413.02 million for the quarter, compared to the consensus estimate of $409.80 million. On average, equities analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, December 2nd. F.N.B.’s payout ratio is 44.04%.

About F.N.B.

(Free Report)

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.

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