Truist Financial Issues Pessimistic Forecast for F.N.B. (NYSE:FNB) Stock Price

Key Points

• Truist Financial cut its price target for F.N.B. from $20.50 to $19.00 while maintaining a “buy” rating, implying 10.82% upside from the stock’s previous close.
• Analyst sentiment remains positive overall: five analysts rate FNB a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $20.33.
• FNB shares traded at $17.14, while the bank’s latest quarterly results matched earnings expectations at $0.42 per share but fell slightly short on revenue; institutional investors own 79.25% of the stock.

F.N.B. (NYSE:FNB - Get Free Report) had its price objective cut by stock analysts at Truist Financial from $20.50 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Truist Financial's target price would indicate a potential upside of 10.82% from the stock's previous close.

A number of other analysts have also issued reports on FNB. Piper Sandler reissued an "overweight" rating on shares of F.N.B. in a research note on Monday, July 20th. Wall Street Zen raised shares of F.N.B. from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Bank of America reiterated 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. Wells Fargo & Company lowered their price objective on shares of F.N.B. from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, September 29th. Finally, UBS Group assumed coverage on shares of F.N.B. in a research note on Monday, September 14th. They issued a "neutral" rating and a $20.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $20.33.

F.N.B. Price Performance

Shares of FNB traded down $0.14 during mid-day trading on Friday, hitting $17.14. 896,836 shares of the stock were exchanged, compared to its average volume of 5,848,980. The company has a market cap of $6.05 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.87. The firm has a 50-day moving average of $18.30 and a two-hundred day moving average of $18.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92. F.N.B. has a 52-week low of $14.45 and a 52-week high of $19.59.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $463.00 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.36 EPS. On average, equities analysts predict that F.N.B. will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of the stock in a transaction dated Thursday, August 6th. The shares were 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 in the company, valued at $2,777,447.75. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F.N.B.

Several large investors have recently modified their holdings of FNB. Stonebridge Financial Group LLC boosted its position in F.N.B. by 1.2% during the third quarter. Stonebridge Financial Group LLC now owns 59,582 shares of the bank's stock valued at $1,025,000 after purchasing an additional 688 shares in the last quarter. Root Financial Partners LLC grew its stake in 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. Versant Capital Management Inc raised its holdings in F.N.B. by 9.7% in the second quarter. Versant Capital Management Inc now owns 11,861 shares of the bank's stock worth $226,000 after purchasing an additional 1,044 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in F.N.B. by 50.7% in the second quarter. Parkside Financial Bank & Trust now owns 3,289 shares of the bank's stock worth $63,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its position in shares of F.N.B. by 6.7% during the third quarter. Everhart Financial Group Inc. now owns 20,709 shares of the bank's stock valued at $356,000 after buying an additional 1,297 shares during the last quarter. Institutional investors own 79.25% of the company's stock.

About F.N.B.

F.N.B. Corporation NYSE: FNB is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, First National Bank, the company provides banking and related financial services to consumers, businesses, government entities and institutions.

FNB's products and services include checking and savings accounts, consumer and residential lending, commercial loans, treasury management, electronic banking and credit-related services. The company also offers wealth management, trust and investment services, insurance solutions and capital markets services through specialized business units.

First National Bank traces its history to 1864, when it was established in Greenville, Pennsylvania.

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