Teachers Retirement System of The State of Kentucky Reduces Stake in F.N.B. Co. (NYSE:FNB)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of F.N.B. Co. (NYSE:FNB) by 2.6% during the 3rd quarter, Holdings Channel reports. The fund owned 118,405 shares of the bank’s stock after selling 3,150 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in F.N.B. were worth $1,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FNB. Kathleen S. Wright Associates Inc. acquired a new stake in F.N.B. during the third quarter worth about $28,000. Brooklyn Investment Group acquired a new stake in shares of F.N.B. during the 3rd quarter worth approximately $31,000. Richardson Financial Services Inc. raised its position in shares of F.N.B. by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after buying an additional 1,473 shares during the period. UMB Bank n.a. lifted its holdings in F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after acquiring an additional 1,665 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in F.N.B. by 31.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock worth $65,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on FNB. Keefe, Bruyette & Woods lifted their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upped their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their price target on shares of F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Stephens lifted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Insider Activity at F.N.B.

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the 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 transaction, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at $27,261,778.50. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by company insiders.

F.N.B. Stock Down 2.6 %

Shares of FNB opened at $15.41 on Wednesday. The company’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $14.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. Co. has a 1 year low of $12.49 and a 1 year high of $17.70. The stock has a market capitalization of $5.54 billion, a PE ratio of 14.13 and a beta of 0.99.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. Analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.’s payout ratio is currently 44.04%.

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.