F.N.B. (NYSE:FNB – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
A number of other brokerages have also recently issued reports on FNB. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Monday, July 20th. Wells Fargo & Company upped their price target on F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Truist Financial cut their price target on shares of 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. Bank of America reiterated a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of F.N.B. in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.70.
Read Our Latest Research Report on FNB
F.N.B. Stock Performance
F.N.B. (NYSE:FNB – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $465.77 million during the quarter, compared to analysts’ expectations of $467.13 million. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.During the same period in the previous year, the firm earned $0.36 earnings per share. Equities research analysts forecast that F.N.B. will post 1.69 EPS for the current year.
Insider Buying and Selling at F.N.B.
In other news, insider Gary L. Guerrieri sold 19,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the transaction, the insider directly owned 298,097 shares of the company’s stock, valued at $5,523,737.41. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On F.N.B.
Institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in F.N.B. during the 4th quarter worth approximately $34,000. Root Financial Partners LLC raised its holdings in shares of F.N.B. by 66.8% in the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock valued at $34,000 after purchasing an additional 820 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,420 shares during the last quarter. Triumph Capital Management bought a new stake in shares of F.N.B. in the third quarter worth $55,000. Finally, Parallel Advisors LLC lifted its position in shares of F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock worth $73,000 after purchasing an additional 720 shares in the last quarter. 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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