Wells Fargo & Company Forecasts Strong Price Appreciation for F.N.B. (NYSE:FNB) Stock

F.N.B. (NYSE:FNB - Free Report) had its target price boosted by Wells Fargo & Company from $16.00 to $18.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the bank's stock.

FNB has been the topic of a number of other research reports. Keefe, Bruyette & Woods upgraded shares of F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target on the stock in a report on Monday, April 21st. Wall Street Zen lowered F.N.B. from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Truist Financial started coverage on F.N.B. in a research note on Tuesday, May 13th. They issued a "buy" rating and a $16.50 price target for the company. Finally, DA Davidson reiterated a "buy" rating and issued a $19.00 target price on shares of F.N.B. in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

F.N.B. Stock Performance

NYSE:FNB traded down $0.13 during mid-day trading on Thursday, reaching $15.88. 1,101,701 shares of the company's stock were exchanged, compared to its average volume of 2,841,591. The business's fifty day simple moving average is $14.27 and its two-hundred day simple moving average is $14.20. F.N.B. has a one year low of $10.88 and a one year high of $17.70. The firm has a market capitalization of $5.71 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 0.93.

F.N.B. (NYSE:FNB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. The business had revenue of $411.61 million during the quarter, compared to analysts' expectations of $409.52 million. During the same period in the previous year, the company posted $0.34 earnings per share. Analysts anticipate that F.N.B. will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were paid a $0.12 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 3.02%. F.N.B.'s dividend payout ratio is currently 38.10%.

Institutional Investors Weigh In On F.N.B.

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of F.N.B. during the 4th quarter worth about $50,205,000. First Trust Advisors LP increased its holdings in shares of F.N.B. by 76.8% during the fourth quarter. First Trust Advisors LP now owns 5,233,363 shares of the bank's stock valued at $77,349,000 after acquiring an additional 2,273,736 shares in the last quarter. Rhino Investment Partners Inc bought a new stake in shares of F.N.B. during the first quarter valued at approximately $19,990,000. Raymond James Financial Inc. bought a new stake in shares of F.N.B. during the fourth quarter valued at approximately $15,801,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of F.N.B. during the fourth quarter valued at approximately $12,952,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

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.