F.N.B. Co. (NYSE:FNB – Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 6,790,000 shares, a growth of 7.1% from the December 31st total of 6,340,000 shares. Based on an average daily volume of 2,390,000 shares, the short-interest ratio is presently 2.8 days.
Insider Activity at F.N.B.
In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.50, for a total value of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.
Institutional Investors Weigh In On F.N.B.
Hedge funds have recently modified their holdings of the stock. Kathleen S. Wright Associates Inc. purchased a new position in F.N.B. during the third quarter worth approximately $28,000. Brooklyn Investment Group purchased a new position in F.N.B. in the 3rd quarter worth approximately $31,000. Richardson Financial Services Inc. grew its position in F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,473 shares in the last quarter. UMB Bank n.a. raised its stake in shares of F.N.B. by 82.3% during the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,665 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of F.N.B. by 100.9% during the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,014 shares during the period. 79.25% of the stock is owned by institutional investors and hedge funds.
F.N.B. Trading Up 1.9 %
F.N.B. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, March 3rd. F.N.B.’s dividend payout ratio is currently 38.10%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on FNB shares. Piper Sandler dropped their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Stephens lifted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Raymond James increased their target price on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. DA Davidson boosted their price target on F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.50.
View Our Latest Stock Analysis on FNB
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.
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