Ellis Investment Partners LLC Lowers Stock Holdings in F.N.B. Corp (NYSE:FNB)

Ellis Investment Partners LLC decreased its position in shares of F.N.B. Corp (NYSE:FNB) by 10.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,191 shares of the bank’s stock after selling 6,216 shares during the quarter. Ellis Investment Partners LLC’s holdings in F.N.B. were worth $576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNB. Renaissance Technologies LLC lifted its stake in shares of F.N.B. by 64.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,067,328 shares of the bank’s stock valued at $36,102,000 after buying an additional 1,205,501 shares in the last quarter. WBI Investments Inc. lifted its stake in shares of F.N.B. by 623.4% during the 2nd quarter. WBI Investments Inc. now owns 943,150 shares of the bank’s stock valued at $11,101,000 after buying an additional 812,767 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of F.N.B. during the 2nd quarter valued at $8,617,000. Parametric Portfolio Associates LLC lifted its stake in shares of F.N.B. by 23.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,880,369 shares of the bank’s stock valued at $33,902,000 after buying an additional 549,355 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC lifted its stake in shares of F.N.B. by 621.9% during the 2nd quarter. W.E. Donoghue & Co. LLC now owns 619,745 shares of the bank’s stock valued at $7,294,000 after buying an additional 533,892 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.

NYSE FNB traded up $0.07 on Wednesday, reaching $11.31. The company had a trading volume of 990,581 shares, compared to its average volume of 2,077,816. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.67 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.29. The firm’s 50 day moving average price is $11.11 and its 200 day moving average price is $11.38. F.N.B. Corp has a 12 month low of $9.35 and a 12 month high of $12.98.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. The company had revenue of $305.25 million for the quarter, compared to the consensus estimate of $305.58 million. F.N.B. had a net margin of 25.79% and a return on equity of 8.55%. During the same period in the previous year, the firm posted $0.27 EPS. On average, research analysts expect that F.N.B. Corp will post 1.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Wednesday, September 4th were issued a $0.12 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 4.24%. F.N.B.’s dividend payout ratio is currently 42.48%.

A number of research firms recently weighed in on FNB. ValuEngine upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Raymond James lifted their price target on shares of F.N.B. from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $13.33.

In related news, Director David L. Motley purchased 2,500 shares of F.N.B. stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $11.12 per share, for a total transaction of $27,800.00. Following the acquisition, the director now owns 36,320 shares in the company, valued at approximately $403,878.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James D. Chiafullo purchased 3,000 shares of F.N.B. stock in a transaction on Monday, August 12th. The stock was bought at an average price of $10.85 per share, for a total transaction of $32,550.00. Following the completion of the acquisition, the director now owns 66,847 shares in the company, valued at approximately $725,289.95. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,000 shares of company stock worth $66,460. 0.59% of the stock is currently owned by insiders.

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

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