F.N.B. Corporation (NYSE:FNB) Given Average Rating of "Buy" by Brokerages

Key Points

• F.N.B. has an average “Buy” rating from six brokerages, with four buys, one strong buy and one hold. Analysts’ average 12-month price target is $20.90, compared with the stock’s recent price of $18.47.
• The bank’s latest quarterly results met expectations, reporting EPS of $0.42 versus the consensus estimate, while revenue of $463 million fell slightly short of forecasts. Analysts expect full-year EPS of approximately $1.69.
• F.N.B. declared a quarterly dividend of $0.13 per share, equivalent to an annualized $0.52 dividend and a 2.8% yield. Institutional investors own 79.25% of the company, while insiders own 1.50%.

F.N.B. Corporation (NYSE:FNB - Get Free Report) has been assigned an average rating of "Buy" from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.90.

Several equities research analysts have recently commented on FNB shares. Bank of America reiterated a "neutral" rating and set a $19.00 price target (down from $20.00) on shares of F.N.B. in a research report on Monday, July 20th. Piper Sandler reaffirmed an "overweight" rating on shares of F.N.B. in a report on Monday, July 20th. Truist Financial cut their price target on F.N.B. from $21.00 to $20.50 and set a "buy" rating on the stock in a research note on Monday, July 20th. Wall Street Zen upgraded F.N.B. from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Wells Fargo & Company lifted their price objective on F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th.

F.N.B. Stock Up 1.0%

NYSE:FNB opened at $18.47 on Friday. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92. The stock's fifty day moving average price is $18.91 and its two-hundred day moving average price is $17.94. 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 results 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 for 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 quarter last year, the business earned $0.36 earnings per share. On average, analysts anticipate that F.N.B. will post 1.69 EPS for the current year.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.8%. F.N.B.'s dividend payout ratio (DPR) is 30.95%.

Insider Transactions at F.N.B.

In related news, insider Gary Guerrieri sold 19,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the sale, the insider directly owned 298,097 shares in the company, valued at $5,523,737.41. This trade represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bryant Mitchell David sold 4,055 shares of F.N.B. stock in a transaction that occurred 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 in the company, valued at $2,777,447.75. The trade was a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of F.N.B.

Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of F.N.B. during the first quarter worth about $3,381,000. Rhino Investment Partners Inc grew its position in shares of F.N.B. by 47.8% in the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank's stock valued at $20,188,000 after purchasing an additional 390,526 shares during the period. SG Americas Securities LLC increased its stake in F.N.B. by 585.2% during the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank's stock worth $5,990,000 after purchasing an additional 305,961 shares in the last quarter. Handelsbanken Fonder AB increased its stake in F.N.B. by 35.9% during the 2nd 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 in the last quarter. Finally, Versant Capital Management Inc raised its holdings in F.N.B. by 9.7% during the 2nd quarter. Versant Capital Management Inc now owns 11,861 shares of the bank's stock worth $226,000 after buying an additional 1,044 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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