Shares of F.N.B. Corporation (NYSE:FNB – Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.94 and traded as high as $18.21. F.N.B. shares last traded at $17.84, with a volume of 2,825,271 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms recently commented on FNB. Bank of America reiterated a “neutral” rating and issued a $19.00 price objective (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. Truist Financial reduced their target price on F.N.B. from $21.00 to $20.50 and set a “buy” rating on the stock in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Monday, July 20th. Finally, Wall Street Zen raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.90.
Read Our Latest Stock Analysis on FNB
F.N.B. Price Performance
F.N.B. (NYSE:FNB – Get Free Report) last released its earnings results on Friday, July 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The company had revenue of $463.00 million for the quarter, compared to analyst estimates of $467.13 million. During the same period in the prior year, the business earned $0.36 EPS. On average, equities research analysts forecast that F.N.B. Corporation will post 1.69 EPS for the current year.
F.N.B. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 1st. F.N.B.’s payout ratio is presently 30.95%.
Insider Activity
In related news, insider Gary L. Guerrieri sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the sale, the insider owned 298,097 shares of the company’s stock, valued at $5,523,737.41. This trade represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bryant Mitchell David sold 4,055 shares of F.N.B. stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $19.25, for a total transaction of $78,058.75. Following the completion of the transaction, the insider owned 144,283 shares of the company’s stock, valued at $2,777,447.75. This represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP raised its holdings in F.N.B. by 9.2% during the second quarter. Corient Private Wealth LP now owns 331,512 shares of the bank’s stock worth $6,325,000 after purchasing an additional 27,891 shares in the last quarter. Amundi raised its stake in shares of F.N.B. by 980.6% during the second quarter. Amundi now owns 382,193 shares of the bank’s stock worth $7,292,000 after purchasing an additional 346,824 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of F.N.B. by 0.3% in the 2nd quarter. HighTower Advisors LLC now owns 620,845 shares of the bank’s stock worth $11,846,000 after acquiring an additional 1,657 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in F.N.B. during the 2nd quarter worth approximately $1,364,000. Finally, California State Teachers Retirement System lifted its holdings in F.N.B. by 1,631.6% in the second quarter. California State Teachers Retirement System now owns 7,888,893 shares of the bank’s stock valued at $150,520,000 after acquiring an additional 7,433,302 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.
About F.N.B.
F.N.B. Corporation is a bank holding company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, FNB Bank, the company provides a broad range of commercial and consumer financial services. Founded in 1864 as the First National Bank of Pennsylvania, F.N.B. has grown through both organic expansion and strategic acquisitions to become a regional banking franchise.
The company’s main business activities include traditional deposit-taking and lending services, such as checking and savings accounts, mortgages, home equity lines of credit, and consumer and commercial loans.
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