F.N.B. (FNB) Declares $0.12 Dividend

F.N.B. said on April 17, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Previously, the company paid $0.12 per share.

Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 15, 2023.

At the current share price of $11.59 / share, the stock's dividend yield is 4.14%. Looking back five years and taking a sample every week, the average dividend yield has been 4.34%, the lowest has been 3.30%, and the highest has been 8.16%. The standard deviation of yields is 0.95 (n=237).

The current dividend yield is 0.21 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 794 funds or institutions reporting positions in F.N.B.. This is an increase of 12 owner(s) or 1.53% in the last quarter. Average portfolio weight of all funds dedicated to FNB is 0.22%, an increase of 11.48%. Total shares owned by institutions increased in the last three months by 2.96% to 339,647K shares. The put/call ratio of FNB is 0.38, indicating a bullish outlook.

Analyst Price Forecast Suggests 34.94% Upside

As of April 6, 2023, the average one-year price target for F.N.B. is $15.64. The forecasts range from a low of $14.14 to a high of $17.85. The average price target represents an increase of 34.94% from its latest reported closing price of $11.59.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for F.N.B. is $1,661MM, an increase of 20.67%. The projected annual non-GAAP EPS is $1.59.

What are Other Shareholders Doing?

TILT - FlexShares Morningstar US Market Factor Tilt Index Fund holds 74K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 73K shares, representing an increase of 0.42%. The firm decreased its portfolio allocation in FNB by 5.62% over the last quarter.

Goldman Sachs Group holds 2,182K shares representing 0.60% ownership of the company. In it's prior filing, the firm reported owning 2,223K shares, representing a decrease of 1.89%. The firm increased its portfolio allocation in FNB by 6.90% over the last quarter.

Nuveen Asset Management holds 1,372K shares representing 0.38% ownership of the company. In it's prior filing, the firm reported owning 1,499K shares, representing a decrease of 9.24%. The firm decreased its portfolio allocation in FNB by 1.47% over the last quarter.

Carret Asset Management holds 61K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 61K shares, representing a decrease of 0.16%. The firm decreased its portfolio allocation in FNB by 99.90% over the last quarter.

MBA Advisors holds 48K shares representing 0.01% ownership of the company. No change in the last quarter.

F.N.B. Background Information
(This description is provided by the company.)

F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. The Company has total assets of more than $37 billion and approximately 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia. FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.

This story originally appeared on Fintel.