F.N.B. (NYSE:FNB) Cut to “Hold” at DA Davidson

DA Davidson downgraded shares of F.N.B. (NYSE:FNB) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of F.N.B. from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.50 target price (up previously from $16.50) on shares of F.N.B. in a report on Monday, July 21st. Wall Street Zen raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. Truist Financial boosted their target price on shares of F.N.B. from $18.00 to $18.50 and gave the company a “buy” rating in a report on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.83.

F.N.B. Price Performance

F.N.B. stock opened at $15.31 on Monday. F.N.B. has a 12 month low of $10.88 and a 12 month high of $17.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $16.12 and its 200 day simple moving average is $14.86. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.82 and a beta of 0.94.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, June 20th. The bank reported $0.40 EPS for the quarter. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.The business had revenue of $419.30 million for the quarter. Sell-side analysts forecast that F.N.B. will post 1.45 EPS for the current year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. F.N.B.’s dividend payout ratio is presently 34.53%.

Hedge Funds Weigh In On F.N.B.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of F.N.B. by 22.8% during the second quarter. Parallel Advisors LLC now owns 3,802 shares of the bank’s stock valued at $55,000 after purchasing an additional 706 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of F.N.B. by 3.2% during the first quarter. Verdence Capital Advisors LLC now owns 25,489 shares of the bank’s stock valued at $343,000 after purchasing an additional 783 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of F.N.B. by 5.6% during the third quarter. GAMMA Investing LLC now owns 15,096 shares of the bank’s stock valued at $243,000 after purchasing an additional 807 shares in the last quarter. LPL Financial LLC increased its stake in shares of F.N.B. by 0.4% during the first quarter. LPL Financial LLC now owns 224,171 shares of the bank’s stock valued at $3,015,000 after purchasing an additional 886 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of F.N.B. by 0.3% during the first quarter. Federated Hermes Inc. now owns 315,585 shares of the bank’s stock valued at $4,245,000 after purchasing an additional 892 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

About F.N.B.

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.