Norges Bank acquired a new position in F.N.B. Corp (NYSE:FNB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,426,836 shares of the bank’s stock, valued at approximately $33,720,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in F.N.B. by 43.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 155,834 shares of the bank’s stock worth $1,533,000 after purchasing an additional 46,927 shares during the period. Context BH Capital Management LP boosted its stake in F.N.B. by 58.1% in the 4th quarter. Context BH Capital Management LP now owns 1,145,138 shares of the bank’s stock worth $11,268,000 after purchasing an additional 420,756 shares during the period. Salem Investment Counselors Inc. boosted its stake in F.N.B. by 11.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 49,417 shares of the bank’s stock worth $486,000 after purchasing an additional 5,097 shares during the period. Millennium Management LLC boosted its stake in F.N.B. by 72.8% in the 4th quarter. Millennium Management LLC now owns 157,784 shares of the bank’s stock worth $1,553,000 after purchasing an additional 66,492 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in F.N.B. by 17.5% in the 4th quarter. Macquarie Group Ltd. now owns 6,167,253 shares of the bank’s stock worth $60,686,000 after purchasing an additional 918,930 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:FNB opened at $11.47 on Wednesday. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.02 and a beta of 1.21. F.N.B. Corp has a 12-month low of $9.35 and a 12-month high of $14.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.82 and a quick ratio of 0.81.
In related news, Director Mary Jo Dively bought 3,000 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was bought at an average price of $11.81 per share, with a total value of $35,430.00. Following the purchase, the director now directly owns 17,900 shares of the company’s stock, valued at approximately $211,399. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William B. Campbell sold 2,900 shares of F.N.B. stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $11.95, for a total transaction of $34,655.00. Following the sale, the director now directly owns 82,240 shares of the company’s stock, valued at approximately $982,768. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
FNB has been the subject of a number of research reports. TheStreet lowered shares of F.N.B. from a “b-” rating to a “c+” rating in a research note on Friday, December 21st. Zacks Investment Research raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.25.
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F.N.B. Company Profile
F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.
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