Meritage Portfolio Management Has $5.96 Million Stock Position in F.N.B. Co. (NYSE:FNB)

Meritage Portfolio Management cut its stake in shares of F.N.B. Co. (NYSE:FNB) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,305 shares of the bank’s stock after selling 7,189 shares during the period. Meritage Portfolio Management owned 0.12% of F.N.B. worth $5,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in F.N.B. in the 2nd quarter valued at $920,000. CWM LLC increased its position in F.N.B. by 0.4% during the third quarter. CWM LLC now owns 379,995 shares of the bank’s stock worth $5,362,000 after acquiring an additional 1,527 shares during the period. Sei Investments Co. boosted its holdings in F.N.B. by 5.8% in the 1st quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after purchasing an additional 73,016 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of F.N.B. during the 1st quarter worth approximately $600,000. Finally, Cetera Advisors LLC grew its position in shares of F.N.B. by 253.4% during the 1st quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock worth $1,311,000 after purchasing an additional 66,676 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Price Performance

Shares of NYSE:FNB traded up $0.08 during trading on Friday, hitting $16.14. 1,787,613 shares of the company were exchanged, compared to its average volume of 2,729,924. F.N.B. Co. has a 1-year low of $10.98 and a 1-year high of $16.76. The company has a market capitalization of $5.80 billion, a P/E ratio of 14.81 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $14.33 and its 200-day moving average is $14.06.

F.N.B. (NYSE:FNB) last issued its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. Equities analysts forecast that F.N.B. Co. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FNB shares. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stephens upped their target price on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.33.

F.N.B. Profile

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.