F.N.B. (NYSE:FNB) Hits New 1-Year High – Here’s Why
by Tristan Rich · The Markets DailyF.N.B. Corporation (NYSE:FNB – Get Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $18.30 and last traded at $18.2950, with a volume of 6789554 shares traded. The stock had previously closed at $17.84.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on FNB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research note on Monday, December 29th. DA Davidson downgraded F.N.B. from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Truist Financial boosted their price objective on F.N.B. from $19.00 to $19.50 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $21.00 target price (up previously from $20.00) on shares of F.N.B. in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.60.
Check Out Our Latest Analysis on F.N.B.
F.N.B. Stock Up 2.6%
The company has a market cap of $6.55 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.79 and a beta of 0.92. The business has a fifty day moving average of $17.32 and a two-hundred day moving average of $16.39. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.28.
F.N.B. (NYSE:FNB – Get Free Report) last announced its earnings results on Tuesday, January 20th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. F.N.B. had a return on equity of 8.76% and a net margin of 20.98%.The business had revenue of $457.78 million during the quarter, compared to the consensus estimate of $457.87 million. During the same period in the prior year, the company posted $0.30 EPS. As a group, equities analysts anticipate that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.
F.N.B. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. F.N.B.’s dividend payout ratio (DPR) is currently 30.77%.
Insider Activity at F.N.B.
In other F.N.B. news, insider James L. Dutey sold 40,000 shares of F.N.B. stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total transaction of $670,000.00. Following the sale, the insider owned 49,936 shares of the company’s stock, valued at $836,428. The trade was a 44.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total transaction of $265,050.00. Following the sale, the insider directly owned 279,883 shares of the company’s stock, valued at $4,945,532.61. The trade was a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is currently owned by insiders.
Hedge Funds Weigh In On F.N.B.
A number of institutional investors and hedge funds have recently bought and sold shares of FNB. Royal Bank of Canada raised its stake in F.N.B. by 11.6% during the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after purchasing an additional 28,570 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of F.N.B. by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock valued at $2,058,000 after buying an additional 29,248 shares during the period. Goldman Sachs Group Inc. lifted its holdings in F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after acquiring an additional 660,387 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after acquiring an additional 58,672 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in F.N.B. by 7.3% in the second quarter. KLP Kapitalforvaltning AS now owns 74,900 shares of the bank’s stock worth $1,092,000 after acquiring an additional 5,100 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.
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.