Point72 Asset Management L.P. Acquires Stake in F.N.B. Co. (NYSE:FNB)

Point72 Asset Management L.P. has made a significant move by purchasing a new stake in F.N.B. Co. (NYSE:FNB) during the third quarter, as detailed in their latest 13F filing with the Securities & Exchange Commission. The firm acquired 1,005,692 shares of the banking company's stock, totaling an investment of around $14,190,000. Following this transaction, Point72 holds approximately 0.28% of F.N.B. Co. according to their most recent filings.

Additionally, several other hedge funds have recently adjusted their positions in F.N.B. Kathleen S. Wright Associates Inc. acquired a new stake worth roughly $28,000 during this quarter. Meanwhile, Brooklyn Investment Group purchased a new stake valued at $31,000. Richardson Financial Services Inc. has doubled its holdings in F.N.B., now owning 2,946 shares worth about $41,000 after acquiring an additional 1,473 shares. Furthermore, GAMMA Investing LLC increased its stake by 113.8% in the previous quarter, now owning 3,314 shares valued at $45,000 after purchasing an additional 1,764 shares. Finally, UMB Bank n.a. has raised its stake in F.N.B. by 82.3%, now owning 3,687 shares worth $52,000 after acquiring more shares as well. It is notable that institutional investors and hedge funds collectively own 79.25% of the company’s shares.

F.N.B. Stock Overview

On Friday, F.N.B. stock opened at $16.55. The company has a market capitalization of $5.95 billion, a price-to-earnings (P/E) ratio of 15.18, and a beta of 0.99. The debt-to-equity ratio stands at 0.40, with a current ratio of 0.93 and a quick ratio of 0.92. F.N.B. has recorded a fifty-day moving average price of $15.38 and a 200-day moving average price of $14.47. Over the past year, the company's stock has seen a low of $12.47 and a high of $17.70.

F.N.B. last released its quarterly earnings results on October 17th, where it reported earnings per share (EPS) of $0.34, falling short of the consensus estimate of $0.36 by $0.02. The company generated $413.02 million in revenue, exceeding analysts' expectations of $409.80 million. The net margin was recorded at 16.29%, with a return on equity of 8.49%. Analysts are predicting that F.N.B. Co. will achieve an EPS of 1.34 for the current fiscal year.

Dividend Announcement

Recently, F.N.B. declared a quarterly dividend that is set to be paid on December 15th. Shareholders on record as of December 2nd will receive a dividend of $0.12 per share. The ex-dividend date is also December 2nd. This indicates an annualized dividend of $0.48, delivering a yield of 2.90%. The company's dividend payout ratio is currently at 44.04%.

Analyst Ratings and Recommendations

Several brokerages have recently provided their insights on F.N.B. Raymond James raised their price target from $17.00 to $19.00, labeling the stock with an "outperform" rating. Piper Sandler maintained an "overweight" rating on the stock. StockNews.com upgraded F.N.B. from a "sell" to a "hold" rating. Furthermore, Stephens increased their price target from $16.00 to $18.00 while giving an "overweight" rating. Keefe, Bruyette & Woods also raised their target price from $16.00 to $18.00, assigning a "market perform" rating. In total, two equity research analysts classified the stock as a hold, while five rated it as a buy. Based on current evaluations from MarketBeat.com, F.N.B. holds a consensus rating of "Moderate Buy" with an average target price of $17.67.

About F.N.B. Corporation

F.N.B. Corporation is a banking and financial holding company that offers a variety of financial products and services. It primarily serves consumers, businesses, and government entities in the United States. The company's operations are divided into three main segments: Community Banking, Wealth Management, and Insurance.

Final Thoughts

Investors seeking updated information about F.N.B. or their investment options may benefit from continual monitoring of analysts' recommendations and market performance.

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