F.N.B. (NYSE:FNB) Issues Earnings Results

Key Points

• F.N.B. reported quarterly EPS of $0.42, matching Wall Street’s consensus estimate. The bank also posted a return on equity of 8.94% and a net margin of 21.64%.
• The stock rose 1.8% on the day to $19.43, near its 52-week high of $19.59. It traded above its average volume, with a market cap of $6.92 billion and a P/E ratio of 11.99.
• Analysts remain constructive on F.N.B., with multiple firms raising price targets and maintaining Buy/Overweight ratings. The stock currently carries a consensus Buy rating and a consensus target price of $20.80.

F.N.B. (NYSE:FNB - Get Free Report) issued its earnings results on Thursday. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42, Zacks reports. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.

F.N.B. Trading Up 1.8%

Shares of NYSE FNB traded up $0.35 during trading on Thursday, reaching $19.43. The stock had a trading volume of 7,361,119 shares, compared to its average volume of 6,432,901. F.N.B. has a fifty-two week low of $14.45 and a fifty-two week high of $19.59. 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 business's 50-day moving average price is $18.15 and its 200-day moving average price is $17.64. The company has a market cap of $6.92 billion, a P/E ratio of 11.99, a PEG ratio of 0.97 and a beta of 0.84.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of F.N.B. in a report on Tuesday, June 9th. Truist Financial lifted their price target on shares of F.N.B. from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Wells Fargo & Company raised their target price on F.N.B. from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on F.N.B. from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Finally, Piper Sandler increased their price target on F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $20.80.

Insider Transactions at F.N.B.

In related news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the transaction, the insider owned 298,097 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Institutional Trading of F.N.B.

Large investors have recently modified their holdings of the stock. State of Tennessee Department of Treasury boosted its holdings in F.N.B. by 3.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 175,396 shares of the bank's stock valued at $3,078,000 after purchasing an additional 6,402 shares during the period. Russell Investments Group Ltd. lifted its stake in F.N.B. by 7.0% in the fourth quarter. Russell Investments Group Ltd. now owns 163,926 shares of the bank's stock worth $2,805,000 after acquiring an additional 10,727 shares during the last quarter. Captrust Financial Advisors grew its holdings in F.N.B. by 7.4% during the 4th quarter. Captrust Financial Advisors now owns 98,869 shares of the bank's stock worth $1,691,000 after acquiring an additional 6,821 shares in the last quarter. Brooklyn Investment Group increased its position in shares of F.N.B. by 53.2% in the 4th quarter. Brooklyn Investment Group now owns 63,101 shares of the bank's stock valued at $1,098,000 after purchasing an additional 21,901 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of F.N.B. by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 8,948 shares of the bank's stock valued at $153,000 after purchasing an additional 4,426 shares during the last quarter. Hedge funds and other 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.

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