F.N.B. (NYSE:FNB) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded F.N.B. to “Hold” from “Sell,” while the broader analyst consensus remains “Buy” with a $20.90 target price.
• F.N.B. shares opened at $19.46, near their 12-month high of $19.59. The bank reported quarterly EPS of $0.42, matching estimates, though revenue of $463 million fell short of the $467.13 million forecast.
• Institutional ownership stands at 79.25%, with several major investors increasing their stakes; meanwhile, two insiders sold shares, and insider ownership is 1.50%.

F.N.B. (NYSE:FNB - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other research analysts have also recently issued reports on FNB. Truist Financial lowered their price target on shares of F.N.B. from $21.00 to $20.50 and set a "buy" rating for the company in a research report on Monday, July 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of F.N.B. in a research note on Tuesday, June 9th. Piper Sandler reiterated an "overweight" rating on shares of F.N.B. in a report on Monday, July 20th. Keefe, Bruyette & Woods boosted their price target on F.N.B. from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company boosted their price target on F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $20.90.

F.N.B. Price Performance

FNB opened at $19.46 on Friday. The stock has a fifty day simple moving average of $18.86 and a two-hundred day simple moving average of $17.90. 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 company has a market cap of $6.87 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. F.N.B. has a 12-month low of $14.45 and a 12-month high of $19.59.

F.N.B. (NYSE:FNB - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.42 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 quarter last year, the firm posted $0.36 earnings per share. Research analysts predict that F.N.B. will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In other F.N.B. news, insider Bryant Mitchell David sold 4,055 shares of F.N.B. stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $19.25, for a total value of $78,058.75. Following the completion of the transaction, the insider directly owned 144,283 shares of the company's stock, valued at approximately $2,777,447.75. The trade was 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 this link. Also, insider Gary L. Guerrieri sold 19,000 shares of the business'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 transaction of $352,070.00. Following the completion of the transaction, the insider owned 298,097 shares of the company's stock, valued at approximately $5,523,737.41. The trade was a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in F.N.B. by 77.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank's stock worth $20,353,000 after buying an additional 660,387 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in F.N.B. by 47.8% during the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank's stock valued at $20,188,000 after acquiring an additional 390,526 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of F.N.B. by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank's stock valued at $14,112,000 after acquiring an additional 58,672 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of F.N.B. by 585.2% during the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank's stock valued at $5,990,000 after acquiring an additional 305,961 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of F.N.B. by 11.6% during the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank's stock valued at $3,692,000 after acquiring an additional 28,570 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

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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