Phocas Financial Corp. Sells 557,522 Shares of F.N.B. Co. (NYSE:FNB)

Phocas Financial Corp. lessened its holdings in shares of F.N.B. Co. (NYSE:FNB) by 85.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,165 shares of the bank’s stock after selling 557,522 shares during the period. F.N.B. accounts for approximately 1.1% of Phocas Financial Corp.’s holdings, making the stock its 23rd biggest position. Phocas Financial Corp.’s holdings in F.N.B. were worth $1,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Creative Planning boosted its position in shares of F.N.B. by 3.0% during the third quarter. Creative Planning now owns 60,731 shares of the bank’s stock valued at $857,000 after buying an additional 1,757 shares during the last quarter. Signaturefd LLC lifted its stake in F.N.B. by 16.7% during the 3rd quarter. Signaturefd LLC now owns 5,592 shares of the bank’s stock valued at $79,000 after acquiring an additional 799 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of F.N.B. during the 3rd quarter valued at about $2,223,000. Dakota Wealth Management bought a new stake in shares of F.N.B. in the third quarter worth approximately $157,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of F.N.B. by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 41,581 shares of the bank’s stock valued at $586,000 after purchasing an additional 2,830 shares during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Trading Down 0.7 %

Shares of FNB stock opened at $14.53 on Wednesday. The company has a market cap of $5.22 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 3.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $15.17 and its two-hundred day simple moving average is $15.05. F.N.B. Co. has a 1 year low of $12.49 and a 1 year high of $17.70.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.30%. F.N.B.’s dividend payout ratio (DPR) is presently 38.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FNB shares. Raymond James lifted their target price on shares of F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company lowered their target price on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. DA Davidson upped their price target on shares of F.N.B. from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler dropped their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Insider Buying and Selling

In other news, Director David L. Motley sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the transaction, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William B. Campbell acquired 3,000 shares of F.N.B. stock in a transaction on Wednesday, February 5th. The shares were purchased at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the acquisition, the director now directly owns 158,834 shares in the company, valued at $2,473,045.38. This trade represents a 1.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.03% of the stock is owned by corporate insiders.

About F.N.B.

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.