F.N.B. Target of Unusually Large Options Trading (NYSE:FNB)

Key Points

• F.N.B. Corporation experienced a significant surge in options trading, with 7,401 call options purchased, marking a 2,303% increase over the typical daily volume.
• Major institutional investors, including First Trust Advisors LP and Goldman Sachs, have significantly increased their stakes in F.N.B., with hedge funds owning approximately 79.25% of the company's stock.
• Wall Street analysts have generally upgraded their outlook on F.N.B., with several firms increasing their target prices and a consensus rating of "Buy" among seven analysts.

F.N.B. Corporation (NYSE:FNB - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors purchased 7,401 call options on the stock. Thisrepresentsanincreaseofapproximately2,303% compared to the typical daily volume of 308 call options.

Hedge Funds Weigh In On F.N.B.

A number of institutional investors have recently bought and sold shares of FNB. First Trust Advisors LP boosted its holdings in shares of F.N.B. by 76.8% in the fourth quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock worth $77,349,000 after buying an additional 2,273,736 shares during the period. Rhino Investment Partners Inc acquired a new position in shares of F.N.B. in the first quarter worth about $19,990,000. Raymond James Financial Inc. acquired a new position in shares of F.N.B. in the fourth quarter worth about $15,801,000. Balyasny Asset Management L.P. acquired a new position in shares of F.N.B. in the fourth quarter worth about $12,952,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank's stock valued at $20,353,000 after purchasing an additional 660,387 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FNB shares. Wall Street Zen raised F.N.B. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Truist Financial upped their target price on F.N.B. from $17.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on F.N.B. from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $18.50 target price (up from $16.50) on shares of F.N.B. in a report on Monday, July 21st. Finally, DA Davidson upped their target price on F.N.B. from $17.00 to $19.00 and gave the company a "buy" rating in a report on Monday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $18.64.

F.N.B. Price Performance

NYSE FNB traded up $0.0050 on Tuesday, reaching $15.8250. 11,547,637 shares of the stock traded hands, compared to its average volume of 3,506,387. The firm's fifty day simple moving average is $15.11 and its 200 day simple moving average is $14.26. 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 company has a market cap of $5.68 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.90 and a beta of 0.94. F.N.B. has a 12 month low of $10.88 and a 12 month high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $438.21 million during the quarter, compared to analyst estimates of $424.39 million. F.N.B. had a return on equity of 7.94% and a net margin of 17.88%.During the same period last year, the company posted $0.34 EPS. As a group, research analysts predict that F.N.B. will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.12 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.0%. F.N.B.'s dividend payout ratio (DPR) is 37.50%.

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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