F.N.B. (NYSE:FNB) Releases Quarterly Earnings Results, Hits Expectations

Key Points

• F.N.B. reported quarterly EPS of $0.43, matching analysts’ consensus estimate. The bank posted a 9.10% return on equity and a 22.29% net margin.
• Shares fell 1.6% to $16.95 following the results, below the stock’s 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $20.33.
• F.N.B. paid a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 3.1% yield. The company’s payout ratio was 30.95%.

F.N.B. (NYSE:FNB - Get Free Report) issued its earnings results on Monday. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43, Zacks reports. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.

F.N.B. Trading Down 1.6%

NYSE FNB traded down $0.28 on Monday, reaching $16.95. The company had a trading volume of 8,702,061 shares, compared to its average volume of 5,902,968. The stock's 50 day moving average is $18.06 and its 200-day moving average is $18.12. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.76 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. F.N.B. has a 52 week low of $15.19 and a 52 week high of $19.59.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.1%. F.N.B.'s payout ratio is 30.95%.

Analyst Ratings Changes

Several research analysts have issued reports on FNB shares. Piper Sandler reiterated an "overweight" rating on shares of F.N.B. in a research note on Monday, July 20th. Wells Fargo & Company reduced their target price on shares of F.N.B. from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 29th. Bank of America reaffirmed a "neutral" rating and issued a $19.00 target price (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. UBS Group started coverage on shares of F.N.B. in a research report on Monday, September 14th. They set a "neutral" rating and a $20.00 target price for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of F.N.B. in a report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.33.

Insider Transactions at F.N.B.

In other F.N.B. 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 transaction of $78,058.75. Following the transaction, the insider owned 144,283 shares in the company, valued at approximately $2,777,447.75. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company's stock.

F.N.B. Company Profile

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, lending and wealth management services to individuals, families, businesses and government entities.

FNB's offerings include checking and savings accounts, certificates of deposit, residential and consumer loans, commercial real estate and business lending, treasury management and cash-management services.

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