F.N.B. (NYSE:FNB) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• F.N.B. shares moved above their 200-day moving average of $17.94, reaching $18.21 before closing at $17.84, despite trading 2.1% lower.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and average price target of $20.90; individual targets range from $19.00 to $22.00.
• The bank reported quarterly EPS of $0.42, matching expectations, and announced a quarterly dividend of $0.13 per share, equivalent to a 2.9% yield. Institutional investors own approximately 79.25% of outstanding shares.

F.N.B. Corporation (NYSE:FNB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.94 and traded as high as $18.21. F.N.B. shares last traded at $17.84, with a volume of 2,825,271 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on FNB. Truist Financial dropped their target price on F.N.B. from $21.00 to $20.50 and set a "buy" rating on the stock in a research report on Monday, July 20th. Weiss Ratings reissued a "buy (b)" rating on shares of F.N.B. in a research report on Tuesday, June 9th. Piper Sandler restated an "overweight" rating on shares of F.N.B. in a research note on Monday, July 20th. Bank of America reaffirmed a "neutral" rating and issued a $19.00 price objective (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. Finally, Wells Fargo & Company increased their price objective on shares of F.N.B. from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $20.90.

F.N.B. Trading Down 2.1%

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 company has a 50 day moving average of $18.93 and a two-hundred day moving average of $17.94. The stock has a market cap of $6.30 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85.

F.N.B. (NYSE:FNB - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.The company had revenue of $463.00 million during the quarter, compared to analysts' expectations of $467.13 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts anticipate that F.N.B. Corporation will post 1.69 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 1st. F.N.B.'s dividend payout ratio is presently 30.95%.

Insider Buying and Selling

In related news, insider Bryant Mitchell David sold 4,055 shares of the business's stock in a transaction on 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 sale, the insider 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the transaction, the insider directly owned 298,097 shares in the company, valued at approximately $5,523,737.41. The trade was a 5.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.50% of the company's stock.

Institutional Trading of F.N.B.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP raised its position in shares of F.N.B. by 9.2% during the 2nd quarter. Corient Private Wealth LP now owns 331,512 shares of the bank's stock worth $6,325,000 after purchasing an additional 27,891 shares during the last quarter. Amundi boosted its holdings in F.N.B. by 980.6% in the 2nd quarter. Amundi now owns 382,193 shares of the bank's stock worth $7,292,000 after buying an additional 346,824 shares during the last quarter. HighTower Advisors LLC boosted its holdings in F.N.B. by 0.3% in the 2nd quarter. HighTower Advisors LLC now owns 620,845 shares of the bank's stock worth $11,846,000 after buying an additional 1,657 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in F.N.B. during the 2nd quarter worth approximately $1,364,000. Finally, California State Teachers Retirement System increased its stake in F.N.B. by 1,631.6% during the 2nd quarter. California State Teachers Retirement System now owns 7,888,893 shares of the bank's stock worth $150,520,000 after buying an additional 7,433,302 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Company Profile

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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