F.N.B. (NYSE:FNB) Hits New 52-Week High - Here's Why

Key Points

• F.N.B. shares hit a new 52-week high on Thursday, trading as high as $19.58 before closing near $19.54, up about 2% on the day.
• Analysts remain mostly bullish on the stock, with several firms raising price targets and the consensus rating staying at Buy with a target price of $20.80.
• The bank recently reported earnings in line with expectations, posting $0.38 EPS on revenue of $450 million, while institutional investors continue to hold the majority of shares.

F.N.B. Corporation (NYSE:FNB - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $19.58 and last traded at $19.5350, with a volume of 2399487 shares changing hands. The stock had previously closed at $19.08.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FNB shares. Piper Sandler increased their price target on shares of F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Wall Street Zen cut shares of F.N.B. from a "hold" rating to a "sell" rating in a report on Sunday. Keefe, Bruyette & Woods increased their target price on shares of F.N.B. from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Truist Financial upped their target price on F.N.B. from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Wells Fargo & Company raised their price target on F.N.B. from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $20.80.

F.N.B. Stock Up 2.0%

The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $6.93 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The firm has a 50-day moving average of $18.15 and a two-hundred day moving average of $17.64.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. The firm had revenue of $450.00 million for the quarter, compared to analyst estimates of $454.06 million. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that F.N.B. Corporation will post 1.73 EPS for the current year.

Insiders Place Their Bets

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.53, for a total value of $352,070.00. Following the completion of the transaction, the insider owned 298,097 shares in the company, valued at $5,523,737.41. This represents a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of F.N.B.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in shares of F.N.B. in the 4th quarter valued at approximately $34,000. Root Financial Partners LLC boosted its holdings 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 worth $34,000 after purchasing an additional 820 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank's stock worth $36,000 after purchasing an additional 2,420 shares during the period. Triumph Capital Management bought a new stake in F.N.B. during the third quarter valued at $55,000. Finally, Parallel Advisors LLC raised its holdings in shares of F.N.B. by 18.9% during the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank's stock worth $73,000 after purchasing an additional 720 shares during the period. 79.25% of the stock is owned by institutional investors.

F.N.B. Company Profile

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.

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