August 14, 2023
Vestor Capital LLC Reports Significant Stake in F.N.B. Co.
Vestor Capital LLC, a prominent investment firm, has announced a substantial increase in its holdings of F.N.B. Co. (NYSE:FNB) during the first quarter of this year. In an intriguing turn of events, the company’s filings with the Securities and Exchange Commission reveal that Vestor Capital LLC grew its holdings in F.N.B. by an astonishing 360.9%, acquiring an additional 18,329 shares and bringing their total ownership to 23,407 shares. With a valuation of approximately $3,255,000 at the time of filing, these figures are quite bewildering.
F.N.B., a large banking institution listed on the New York Stock Exchange under the ticker symbol FNB, recently released its quarterly earnings results on Wednesday, July 19th. The bank pleasantly surprised industry analysts by reporting earnings per share of $0.39 for the quarter exceeding consensus estimates by $0.01.
This notable performance was further emphasized by F.N.B.’s return on equity of 10.52%, indicating the bank’s ability to generate profits from shareholders’ investments. The net margin for the company also stood at an impressive 28.28%, illustrating efficient cost management and profitability.
Equally impressive is F.N.B.’s revenue growth during the quarter, which amounted to $409.55 million surpassing analyst estimates by $3.4 million or roughly 0.8%. This figure signified a substantial increase of 21.9% compared to the same period last year, suggesting robust business expansion and positioning within the market segment.
These encouraging financial results have generated positive sentiment among investors and sell-side analysts alike who are now contemplating F.N.B.’s future prospects based on this solid performance up to now.
Looking ahead to the current fiscal year’s projections, sell-side analysts are optimistic about F.N.B.’s trajectory. The analysts anticipate that the company will post earnings per share of 1.48 for this fiscal year, further bolstering confidence in F.N.B.’s ability to maintain its upward momentum.
Vestor Capital LLC’s decision to significantly expand their stake in F.N.B. demonstrates their unwavering confidence in the bank’s potential for growth and profitability. With such extensive holdings, Vestor Capital LLC has firmly established itself as a key player within F.N.B.’s shareholder community and is poised to benefit considerably from any future successes the bank may achieve.
As the financial landscape continues to evolve rapidly, it will be intriguing to observe how these recent developments impact both Vestor Capital LLC and F.N.B. Moving forward, market participants will closely monitor key indicators and assessments provided by analysts to gain further insight into the long-term viability of F.N.B. as an investment option.
In conclusion, with its remarkable increase in holdings and stellar financial performance, F.N.B. Co. has managed to captivate the attention of investors across the board. This stock analysis serves as a testament affirming F.N.B.’s position as an enticing prospect within the financial sector, leaving room for excitement and anticipation surrounding its future endeavors.
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Notable Changes in Institutional Investors’ Positions in F.N.B.
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”FNB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Institutional investors and hedge funds have been making notable changes to their positions in F.N.B, the bank services company. Swiss National Bank, for instance, recently increased its stake in the company by 1.6% during the fourth quarter of last year. The bank now possesses 846,915 shares worth $11,052,000 after acquiring an additional 13,500 shares during this period. HBK Sorce Advisory LLC also bolstered its position by 100.3% in the same quarter, owning 62,216 shares valued at $812,000 after purchasing an extra 31,149 shares.
Siena Capital Partners GP LLC is another example of remarkable growth in F.N.B.’s shareholder base. In the first quarter of this year alone, Siena Capital Partners GP LLC augmented its position by a staggering 373.3%. The company now possesses 227,200 shares worth $2,636,000 after purchasing an additional 179,200 shares.
Furthermore, Hancock Whitney Corp acquired a stake in F.N.B. worth $1,996,000 during the fourth quarter of last year. Macquarie Group Ltd., on the other hand increased its holdings in F.N.B by 7.2% during the same period but holds a more substantial number of shares: 12,844,538 valued at $167,6210.
Altogether it can be revealed that currently around 76.78% of F.N.B.’s stock is held by hedge funds and other institutional investors.
In terms of financial performance on the market today (August 14th), NYSE:FNB opened at $12.28 per share which are below its moving averages over both a fifty-day ($12.04) and two-hundred-day period ($12.23). With a market capitalization of roughly $4.41 billion and a beta rate of 1.08, the company has demonstrated some fluctuations in its value. Over the past year, F.N.B.’s shares have ranged between a low of $10.09 and a high of $14.71.
In terms of its financial stability, F.N.B currently displays a quick ratio and current ratio of 0.90 each, with a debt-to-equity ratio of 0.35.
The company has also recently announced the declaration of a quarterly dividend to be paid on Friday, September 15th. Shareholders on record as of Tuesday, September 5th will receive a dividend payment worth $0.12 per share. This represents an annualized basis dividend pay-out ratio (DPR) equal to 30.97%, providing a dividend yield rate at approximately 3.91%.
Several research analysts have recent made concerning remarks about F.N.B., either recommending buying or selling stocks in the company. StockNews.com began covering F.N.B on May 18th and gave it a “sell” rating. Conversely, Stephens reiterated an “overweight” stance on the shares with a target price set at $15.00 on July 20th whilst DA Davidson raised their price target from $16 to $17 just one day later.
In summary, despite varying opinions surrounding F.N.B., Bloomberg.com has reported that recent ratings have positioned the stock under an average rating label of “Moderate Buy” with a consensus price target of around $15.67.
As such, investors interested in banking services might want to take these recent developments into account when evaluating their investment choices in this particular market sector.
