Truist Financial Issues Positive Forecast for F.N.B. (NYSE:FNB) Stock Price

Key Points

• Truist Financial raised F.N.B.'s price target from $19.50 to $20.00 and maintained a "buy" rating, implying roughly an 11.7% upside; Piper Sandler also lifted its target to $21 and the consensus price target is $19.70.
• Recent results: F.N.B. posted Q1 EPS of $0.38 (in line with estimates) and revenue of $450.3M (slightly below expectations), with a P/E of 11.06 and analysts forecasting about $1.45 EPS for the year.
• Strong institutional ownership: About 79.25% of the stock is held by hedge funds and institutions, with notable position increases from Goldman Sachs and SG Americas signaling heightened institutional interest.

F.N.B. (NYSE:FNB - Get Free Report) had its price objective increased by Truist Financial from $19.50 to $20.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Truist Financial's price objective indicates a potential upside of 11.67% from the stock's previous close.

Several other research firms have also recently issued reports on FNB. Weiss Ratings reaffirmed a "buy (b)" rating on shares of F.N.B. in a report on Monday, December 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $21.00 price target (up from $20.00) on shares of F.N.B. in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, F.N.B. presently has a consensus rating of "Buy" and an average price target of $19.70.

F.N.B. Price Performance

NYSE FNB opened at $17.91 on Monday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.88 and a beta of 0.87. F.N.B. has a 1 year low of $12.33 and a 1 year high of $19.14. The business's fifty day moving average is $17.15 and its two-hundred day moving average is $16.88. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92.

F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $450.26 million for the quarter, compared to analysts' expectations of $454.06 million. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, research analysts forecast that F.N.B. will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On F.N.B.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNB. Goldman Sachs Group Inc. grew its position in F.N.B. by 77.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank's stock worth $20,353,000 after purchasing an additional 660,387 shares in the last quarter. SG Americas Securities LLC grew its position in F.N.B. by 585.2% during the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank's stock worth $5,990,000 after purchasing an additional 305,961 shares in the last quarter. BNP Paribas Financial Markets grew its position in F.N.B. by 454.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank's stock worth $3,550,000 after purchasing an additional 180,610 shares in the last quarter. Horizon Investments LLC purchased a new position in F.N.B. during the 4th quarter worth approximately $2,182,000. Finally, Tradewinds LLC. purchased a new position in F.N.B. during the 3rd quarter worth approximately $1,444,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

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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