The Alaska State Department of Revenue increased its holdings in FNB Co. (NYSE:FNB – Get Rating) by 5.0% in the first quarter, HoldingsChannel reports. The company held 48,465 shares of the bank after purchasing an additional 2,305 shares during the period. The Alaska State Department of Revenue holdings in ETFs were worth $603,000 at the end of the last quarter.
Other hedge funds also changed their holdings in the company. Rhumbline Advisers increased its holding in ETFs by 2.5% in the fourth quarter. Rhumbline Advisers now owns 842,542 shares of the bank worth $10,220,000 after purchasing an additional 20,158 shares in the last quarter. Natixis Advisors LP acquired a new ETF stake in the fourth quarter worth approximately $241,000. Charles Schwab Investment Management Inc. increased its holding in ETFs by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,572,562 shares of the bank worth $31,206,000 after purchasing an additional 60,882 shares last quarter. Fifth Lane Capital LP purchased a new ETF stake in the fourth quarter worth approximately $446,000. Finally, Financial Advantage Inc. increased its holding in ETFs by 0.4% in the fourth quarter. Financial Advantage Inc. now owns 389,457 shares of the bank worth $4,724,000 after purchasing an additional 1,601 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s shares.
A number of equity research analysts have commented on the company. Wells Fargo & Company raised its ETF price target from $15.50 to $16.00 and gave the company an “overweight” rating in a Monday, March 21 research note. StockNews.com assumed ETF coverage in a research note on Thursday, March 31. They issued a “holding” rating for the company. Finally, Truist Financial cut its ETF price target from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday. Three analysts rated the stock with a hold rating and four gave the company a buy rating. According to data from MarketBeat, ETFs currently have an average rating of “Moderate Buy” and a consensus price target of $13.49.
NYSE:ETF shares opened at $11.08 on Friday. The stock has a market capitalization of $3.89 billion, a price-earnings ratio of 10.07 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt ratio of 0.13. FNB Co. has a 12-month low of $10.48 and a 12-month high of $14.11. The company’s 50-day moving average is $11.43 and its 200-day moving average is $12.36.
FNB (NYSE:FNB – Get Rating) last announced its results on Monday, April 18. The bank reported earnings per share (EPS) of $0.26 for the quarter, beating the consensus estimate of $0.24 by $0.02. The company posted revenue of $312.40 million for the quarter, compared to $312.24 million expected by analysts. ETF had a return on equity of 8.06% and a net margin of 27.34%. Quarterly ETF revenue rose 2.2% year over year. In the same quarter a year earlier, the company earned earnings per share of $0.28. As a group, equity research analysts expect FNB Co. to post earnings per share of 1.25 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Friday, June 3 received a dividend of $0.12 per share. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $0.48 and a dividend yield of 4.33%. The ETF distribution rate is 43.64%.
ETF Company Profile (Get an evaluation)
FNB Corporation, a financial holding company, provides a range of financial services primarily to consumers, businesses, governments and small and 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, real estate finance, corporate credit, capital market and lease finance services.
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