F.N.B. (NYSE:FNB) Upgraded to "Hold" at UBS Group

Key Points

• UBS Group upgraded F.N.B. to a “Hold” rating. The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $20.75 versus its recent price of $18.26.
• F.N.B. reported quarterly earnings of $0.42 per share, matching estimates, while revenue of $463 million fell slightly short of the $467.13 million consensus forecast.
• Institutional investors own approximately 79.25% of F.N.B.’s shares; several firms increased their holdings during the second quarter, while an insider sold 4,055 shares at an average price of $19.25.

F.N.B. (NYSE:FNB - Get Free Report) was upgraded by equities researchers at UBS Group to a "hold" rating in a report issued on Monday, Zacks reports.

Several other research firms also recently commented on FNB. Bank of America restated a "neutral" rating and set a $19.00 price objective (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. Truist Financial lowered their target price on F.N.B. from $21.00 to $20.50 and set a "buy" rating for the company in a report on Monday, July 20th. Weiss Ratings reissued a "buy (b)" rating on shares of F.N.B. in a research report on Friday, September 4th. Piper Sandler restated an "overweight" rating on shares of F.N.B. in a research note on Monday, July 20th. Finally, Wells Fargo & Company raised their price target on F.N.B. from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, F.N.B. currently has an average rating of "Moderate Buy" and a consensus target price of $20.75.

F.N.B. Price Performance

Shares of FNB stock opened at $18.26 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $6.45 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.16 and a beta of 0.84. The company's 50-day simple moving average is $18.79 and its two-hundred day simple moving average is $17.97. F.N.B. has a one year low of $14.45 and a one year high of $19.59.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $463.00 million during the quarter, compared to the consensus estimate of $467.13 million. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts anticipate that F.N.B. will post 1.69 EPS for the current year.

Insider Transactions at F.N.B.

In other news, insider Bryant Mitchell David sold 4,055 shares of the company's stock in a transaction 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 transaction, the insider directly owned 144,283 shares of the company's stock, valued at approximately $2,777,447.75. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On F.N.B.

A number of large investors have recently modified their holdings of FNB. Sequoia Financial Advisors LLC grew its position in F.N.B. by 83.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 115,720 shares of the bank's stock worth $2,208,000 after purchasing an additional 52,508 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in F.N.B. by 10.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,927 shares of the bank's stock valued at $342,000 after purchasing an additional 1,629 shares during the last quarter. IFP Advisors Inc grew its stake in F.N.B. by 45.3% during the 2nd quarter. IFP Advisors Inc now owns 7,248 shares of the bank's stock valued at $138,000 after purchasing an additional 2,261 shares during the last quarter. Allworth Financial LP increased its holdings in shares of F.N.B. by 81.5% in the second quarter. Allworth Financial LP now owns 16,669 shares of the bank's stock valued at $318,000 after purchasing an additional 7,483 shares during the period. Finally, West Family Investments Inc. acquired a new position in shares of F.N.B. in the second quarter valued at about $636,000. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Company Profile

F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It operates primarily through its banking subsidiary, First National Bank of Pennsylvania, which provides services to consumers, businesses, and institutional clients.

The company offers a broad range of banking products and services, including checking and savings accounts, consumer lending, residential and commercial real estate financing, business loans, treasury management, and wealth management.

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