Norges Bank Invests $33.72 Million in F.N.B. Corp (FNB) Stock

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.

F.N.B. (NYSE:FNB) last issued its earnings results on Tuesday, January 22nd. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $300.67 million during the quarter, compared to analyst estimates of $303.18 million. F.N.B. had a net margin of 25.65% and a return on equity of 8.42%. During the same quarter last year, the business posted $0.24 EPS. Equities analysts forecast that F.N.B. Corp will post 1.16 EPS for the current fiscal year.

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.

Further Reading: How mutual funds make money

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Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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