Crestline Management LP Increases Stake in F.N.B. Corporation (FNB)
Crestline Management LP grew its stake in shares of F.N.B. Corporation (NYSE:FNB) by 3,562.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 586,000 shares of the bank’s stock after acquiring an additional 570,000 shares during the period. F.N.B. comprises about 1.1% of Crestline Management LP’s portfolio, making the stock its 2nd largest holding. Crestline Management LP owned 0.18% of F.N.B. worth $8,222,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in FNB. Ffcm LLC purchased a new stake in shares of F.N.B. in the second quarter valued at $114,000. Stifel Financial Corp lifted its holdings in shares of F.N.B. by 1.9% in the second quarter. Stifel Financial Corp now owns 10,609 shares of the bank’s stock valued at $150,000 after purchasing an additional 202 shares in the last quarter. First Allied Advisory Services Inc. purchased a new stake in shares of F.N.B. in the third quarter valued at $150,000. Park National Corp OH purchased a new stake in shares of F.N.B. in the third quarter valued at $162,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of F.N.B. in the third quarter valued at $163,000. Institutional investors own 76.02% of the company’s stock.
F.N.B. Corporation (FNB) opened at $14.08 on Monday. F.N.B. Corporation has a one year low of $12.02 and a one year high of $16.43. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4,552.21, a price-to-earnings ratio of 14.98, a PEG ratio of 1.60 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, November 30th. F.N.B.’s payout ratio is 62.34%.
FNB has been the subject of a number of research analyst reports. BidaskClub lowered F.N.B. from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Boenning Scattergood upgraded F.N.B. from a “neutral” rating to an “outperform” rating in a report on Monday, August 28th. ValuEngine lowered F.N.B. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of F.N.B. in a research note on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of F.N.B. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. F.N.B. presently has a consensus rating of “Buy” and an average price target of $17.39.
In other F.N.B. news, insider Robert M. Moorehead bought 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $13.46 per share, with a total value of $67,300.00. Following the completion of the transaction, the insider now directly owns 25,312 shares of the company’s stock, valued at approximately $340,699.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank C. Mencini bought 2,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were acquired at an average cost of $12.93 per share, for a total transaction of $25,860.00. The disclosure for this purchase can be found here. Insiders have acquired 8,500 shares of company stock worth $113,350 over the last three months. Company insiders own 1.21% of the company’s stock.
F.N.B. Corporation is a financial holding company. The Company operates through four segments: Community Banking, Wealth Management, Insurance and Consumer Finance. Its Community Banking segment consists of First National Bank of Pennsylvania (FNBPA), which offers services, including commercial and individual demand, savings and time deposit accounts and commercial, mortgage and individual installment loans.
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