F.N.B. Target of Unusually High 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 unusually large options trading activity on Tuesday. Stock traders acquired 7,401 call options on the company. Thisisanincreaseof2,303% compared to the average volume of 308 call options.

F.N.B. Stock Up 4.2%

FNB stock traded up $0.6610 during trading on Friday, hitting $16.5010. 15,604,309 shares of the stock traded hands, compared to its average volume of 7,573,597. F.N.B. has a 1 year low of $10.88 and a 1 year high of $17.70. The firm's 50 day moving average is $15.27 and its two-hundred day moving average is $14.27. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93.

F.N.B. (NYSE:FNB - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $438.21 million for the quarter, compared to analysts' expectations of $424.39 million. F.N.B. had a net margin of 17.88% and a return on equity of 7.94%. During the same quarter in the prior year, the business earned $0.34 EPS. On average, sell-side analysts anticipate that F.N.B. will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.48 annualized dividend and a yield of 2.9%. F.N.B.'s dividend payout ratio is currently 37.50%.

Hedge Funds Weigh In On F.N.B.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. McClarren Financial Advisors Inc. bought a new position in F.N.B. during the 1st quarter valued at about $28,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in F.N.B. during the 1st quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its stake in 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 valued at $36,000 after acquiring an additional 2,420 shares during the period. Parallel Advisors LLC lifted its stake in F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank's stock valued at $42,000 after acquiring an additional 995 shares during the period. Finally, Smallwood Wealth Investment Management LLC bought a new position in F.N.B. during the 1st quarter valued at about $42,000. Institutional investors own 79.25% of the company's stock.

Wall Street Analyst Weigh In

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

About F.N.B.

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.