Wells Fargo & Company Cuts F.N.B. (NYSE:FNB) Price Target to $18.00

F.N.B. (NYSE:FNB) had its target price lowered by Wells Fargo & Company from $19.00 to $18.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the bank’s stock.

FNB has been the topic of a number of other research reports. Raymond James raised their price objective on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Stephens boosted their target price on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

F.N.B. Stock Performance

FNB stock opened at $14.68 on Monday. F.N.B. has a 52 week low of $12.49 and a 52 week high of $17.70. The company has a market capitalization of $5.28 billion, a PE ratio of 13.47 and a beta of 1.01. The company’s 50-day simple moving average is $15.79 and its 200 day simple moving average is $14.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.93.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The business had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. As a group, sell-side analysts anticipate that F.N.B. will post 1.34 earnings per share for the current year.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Monday, December 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Insider Activity at F.N.B.

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On F.N.B.

A number of hedge funds and other institutional investors have recently bought and sold shares of FNB. CWM LLC boosted its stake in shares of F.N.B. by 0.4% during the third quarter. CWM LLC now owns 379,995 shares of the bank’s stock valued at $5,362,000 after purchasing an additional 1,527 shares in the last quarter. Jane Street Group LLC raised its holdings in F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock valued at $5,038,000 after buying an additional 316,515 shares during the last quarter. Stifel Financial Corp boosted its position in F.N.B. by 6.6% during the 3rd quarter. Stifel Financial Corp now owns 28,669 shares of the bank’s stock worth $405,000 after buying an additional 1,768 shares during the period. Petiole USA ltd grew its holdings in F.N.B. by 48.1% during the 3rd quarter. Petiole USA ltd now owns 175,421 shares of the bank’s stock worth $2,475,000 after acquiring an additional 57,000 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in F.N.B. in the 3rd quarter valued at approximately $447,000. Institutional investors own 79.25% of the company’s stock.

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.