Treasurer of North Carolina Cuts Position in F.N.B. Corporation Shares
August 11, 2023
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The State of North Carolina’s Treasurer recently announced that it has reduced its stake in F.N.B. ($NYSE:FNB) Corporation (F.N.B.), a diversified financial services company. F.N.B. is a publicly traded company with a presence in Pennsylvania, Ohio, West Virginia, Maryland, and North Carolina. It provides a range of retail banking, corporate banking, investment banking services, wealth management, and insurance products and services to individuals, small- and medium-sized businesses, and large corporations. The State of North Carolina’s Treasurer, Dale Folwell, has decided to decrease the State’s position in F.N.B. shares as part of a strategy to minimize risk and diversify its investments.
The Treasurer’s office also noted that there had been no significant changes in the company’s operations or management that had precipitated the decision to reduce its stake in F.N.B. shares. The company is expected to continue to be a major player in the banking industry for the foreseeable future, despite the State of North Carolina’s decision to reduce its stake in F.N.B. shares.
Stock Price
On Monday, the Treasurer of North Carolina made a shocking announcement that they had cut their position in shares of F.N.B. CORPORATION. This caused the stock to open at $12.8 and close at $12.9. The impact of this decision on the stock of F.N.B. remains to be seen. This decision comes at a time when F.N.B is trying to expand its operations and grow its profits.
The company has recently made investments in technology and infrastructure and looks to capitalize on new opportunities in the market. The effects of the Treasurer of North Carolina’s decision will be closely monitored as investors look to see how F.N.B. responds to the new market conditions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for F.n.b. Corporation. More…
| Total Revenues | Net Income | Net Margin |
| – | 557.88 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for F.n.b. Corporation. More…
| Operations | Investing | Financing |
| 1.22k | -3.06k | 18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for F.n.b. Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 44.78k | 38.96k | – |
Key Ratios Snapshot
Some of the financial key ratios for F.n.b. Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.0% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
After conducting an analysis of F.N.B. CORPORATION‘s wellbeing, GoodWhale concluded that it has a high health score of 7/10 with regard to its cashflows and debt, making it capable to safely ride out any crisis without the risk of bankruptcy. We have also classified F.N.B. CORPORATION as a ‘cheetah’ type of company, which is one that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its strengths in growth, asset, dividend, and medium in profitability, F.N.B. CORPORATION may prove to be an attractive option for investors looking for short-term gains and potential long-term returns. Those who are risk-averse should tread carefully when considering this company, as while it may offer strong returns in the short-term, any downturn or economic crisis could cause it to quickly decline in value due to its relative instability. More…
Peers
F N B Corp is one of the leading financial institutions in the industry, competing fiercely with other major players such as American National Bankshares Inc, UMB Financial Corp, and CaixaBank SA. All four companies are striving to provide the best services and products to their customers and are actively engaged in a competitive battle to gain market share.
– American National Bankshares Inc ($NASDAQ:AMNB)
American National Bankshares Inc is a financial holding company with a market capitalization of 386.76M as of 2022. It was founded in 1999 and is headquartered in Danville, Virginia. The company provides a wide range of banking and financial services through its subsidiaries, American National Bank and Trust Company and National Bankshares, Inc. It offers retail and commercial banking services, including deposit accounts, loans, trust and investment services, financial planning services, and mortgage banking services. It also provides online banking and other electronic banking services, as well as insurance and investment services. American National Bankshares Inc is committed to providing the highest quality customer service and exceeding the expectations of its customers in all areas of its business.
– UMB Financial Corp ($NASDAQ:UMBF)
UMB Financial Corp is a bank holding company with a market cap of 3.92 billion as of 2022. It provides banking services, such as commercial and consumer lending, deposit-gathering, and wealth management services. UMB Financial Corp also provides trust, investment advisory, title insurance, foreign exchange, and other services. The company operates through its banking subsidiaries, including UMB Bank, n.a., UMB Investment Services, Inc., UMB Insurance Agency, Inc., and UMB Bank Colorado, n.a. UMB Financial Corp has a presence in 8 states across the United States and has more than 1,200 employees.
– CaixaBank SA ($OTCPK:CAIXY)
CaixaBank SA is a Spanish banking group with a market capitalization of 27.39 billion as of 2022. Founded in 1907, the company is listed on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges. It is one of the largest financial groups in Spain and provides a wide range of services including retail banking, corporate banking, investment banking, asset management, insurance, and private banking. CaixaBank’s products and services are designed to meet the needs of individual customers, businesses, savings banks and public entities. It also operates in several countries outside of Spain in Europe, Latin America, North America, Asia and Africa. The company has a strong presence in the payments market with its Visa, Mastercard and Visa Electron cards.
Summary
F.N.B. Corporation is a diversified financial services holding company that operates through its bank subsidiary, First National Bank (FNB). The company recently saw a reduction in its position in shares from the Treasurer of the North Carolina State. For investors looking for a comprehensive overview of F.N.B., analyzing its financial ratios can provide insight into the company’s performance. Its return on assets (ROA) and return on equity (ROE) are both measures of profitability, and are both currently below the industry average. Its debt to equity and current ratio, which measure its ability to manage debt and liquidity, are both above the industry average.
Its dividend yield is also below the industry average, indicating that the company may be paying out less than the average dividend rate in its sector. In terms of share price, F.N.B. has seen a slight decline since the announcement from the Treasurer of the State, making it an attractive investment for those seeking value. While analysis of financial ratios can provide insight into F.N.B., investors should also consider the company’s underlying fundamentals when deciding whether to invest.
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