F.N.B. Corporation (NYSE:FNB – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $19.34 and last traded at $19.2840, with a volume of 414269 shares changing hands. The stock had previously closed at $19.08.
Wall Street Analysts Forecast Growth
FNB has been the topic of several recent research reports. Truist Financial raised their price target on F.N.B. from $19.50 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Finally, Piper Sandler raised their target price on shares of F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.40.
Check Out Our Latest Research Report on FNB
F.N.B. Trading Down 2.1%
F.N.B. (NYSE:FNB – Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $450.00 million for the quarter, compared to analysts’ expectations of $454.06 million. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.During the same period last year, the firm earned $0.32 earnings per share. As a group, equities research analysts expect that F.N.B. Corporation will post 1.73 earnings per share for the current fiscal year.
F.N.B. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from F.N.B.’s previous quarterly dividend of $0.12. F.N.B.’s payout ratio is presently 32.10%.
Insider Buying and Selling
In other news, insider Gary L. Guerrieri sold 19,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the completion of the sale, the insider directly owned 298,097 shares of the company’s stock, valued at approximately $5,523,737.41. This trade represents a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On F.N.B.
Several hedge funds and other institutional investors have recently modified their holdings of FNB. CoreCap Advisors LLC bought a new position in F.N.B. in the fourth quarter worth about $34,000. Root Financial Partners LLC boosted its position in F.N.B. by 66.8% during the 1st quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock valued at $34,000 after acquiring an additional 820 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in F.N.B. by 3,723.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,420 shares in the last quarter. Triumph Capital Management purchased a new position in shares of F.N.B. during the 3rd quarter worth approximately $55,000. Finally, Parallel Advisors LLC grew its holdings in shares of F.N.B. by 18.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock worth $73,000 after acquiring an additional 720 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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