Shares of F.N.B. Corporation (NYSE:FNB – Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.95 and traded as high as $18.70. F.N.B. shares last traded at $18.4850, with a volume of 3,029,226 shares changing hands.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on FNB. Truist Financial lowered their price target 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. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Monday, July 20th. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company raised their price objective on F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.90.
Read Our Latest Report on F.N.B.
F.N.B. Trading Up 1.0%
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, meeting analysts’ consensus estimates of $0.42. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.The business had revenue of $463.00 million for the quarter, compared to analyst estimates of $467.13 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts predict that F.N.B. Corporation will post 1.69 earnings per share for the current fiscal year.
F.N.B. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 1st. F.N.B.’s dividend payout ratio is currently 30.95%.
Insider Activity at F.N.B.
In other news, insider Bryant Mitchell David sold 4,055 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $19.25, for a total value of $78,058.75. Following the transaction, the insider directly owned 144,283 shares in the company, valued at $2,777,447.75. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary L. Guerrieri sold 19,000 shares of F.N.B. stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the sale, the insider owned 298,097 shares in the company, valued at approximately $5,523,737.41. This represents a 5.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.
Institutional Investors Weigh In On F.N.B.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. bought a new stake in shares of F.N.B. in the 1st quarter worth $3,381,000. Rhino Investment Partners Inc increased its holdings in shares of F.N.B. by 47.8% in the first quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock valued at $20,188,000 after buying an additional 390,526 shares in the last quarter. Horizon Investments LLC acquired a new stake in shares of F.N.B. during the 4th quarter valued at $2,182,000. SG Americas Securities LLC grew its holdings in shares of F.N.B. by 585.2% in the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock worth $5,990,000 after acquiring an additional 305,961 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of F.N.B. by 35.9% during the second quarter. Handelsbanken Fonder AB now owns 126,431 shares of the bank’s stock worth $2,412,000 after purchasing an additional 33,400 shares during the period. 79.25% of the stock is currently owned by institutional investors.
F.N.B. Company Profile
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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