F.N.B. (NYSE:FNB) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• F.N.B. reported $0.41 earnings per share, exceeding analysts' estimates of $0.37 by $0.04.
• The company announced a quarterly dividend of $0.12 per share, reflecting a 3.3% yield for investors.
• Brokerages have shown increased confidence, with several raising their price targets, now averaging $18.64 according to MarketBeat.

F.N.B. (NYSE:FNB - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04, Zacks reports. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.

F.N.B. Stock Performance

NYSE:FNB traded down $1.15 during midday trading on Thursday, reaching $14.64. The stock had a trading volume of 40,462,102 shares, compared to its average volume of 5,110,916. The firm has a fifty day simple moving average of $16.12 and a two-hundred day simple moving average of $14.78. F.N.B. has a 12-month low of $10.88 and a 12-month high of $17.70. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.26 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.06 and a beta of 0.94.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.48 annualized dividend and a yield of 3.3%. F.N.B.'s dividend payout ratio is currently 37.50%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNB. Wells Fargo & Company increased their price target on F.N.B. from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Truist Financial lifted their target price on shares of F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $18.50 price objective (up from $16.50) on shares of F.N.B. in a report on Monday, July 21st. DA Davidson increased their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of F.N.B. in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, F.N.B. has an average rating of "Buy" and a consensus price target of $18.64.

Hedge Funds Weigh In On F.N.B.

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of F.N.B. by 3,723.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank's stock worth $36,000 after acquiring an additional 2,420 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of F.N.B. by 1.8% in the second quarter. Captrust Financial Advisors now owns 87,304 shares of the bank's stock valued at $1,273,000 after purchasing an additional 1,514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in F.N.B. by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank's stock worth $2,058,000 after buying an additional 29,248 shares in the last quarter. Royal Bank of Canada lifted its holdings in F.N.B. by 11.6% in the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank's stock valued at $3,692,000 after purchasing an additional 28,570 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank's stock worth $14,112,000 after buying an additional 58,672 shares during the period. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Company Profile

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.

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