F.N.B. (NYSE:FNB) Shares Gap Up After Better-Than-Expected Earnings

F.N.B. Co. (NYSE:FNB)’s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.23, but opened at $12.91. F.N.B. shares last traded at $12.72, with a volume of 694,693 shares traded.

The bank reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $411.61 million during the quarter, compared to analysts’ expectations of $409.52 million. F.N.B. had a net margin of 18.12% and a return on equity of 8.30%. During the same quarter in the previous year, the company posted $0.34 EPS.

F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.78%. F.N.B.’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

FNB has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. DA Davidson lifted their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price objective on F.N.B. from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

Insider Activity

In related news, Director David L. Motley sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the director now directly owns 65,344 shares of the company’s stock, valued at approximately $1,013,485.44. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William B. Campbell bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the transaction, the director now directly owns 158,834 shares of the company’s stock, valued at $2,473,045.38. The trade was a 1.93 % increase in their position. The disclosure for this purchase can be found here. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On F.N.B.

Several institutional investors and hedge funds have recently modified their holdings of the business. World Investment Advisors raised its position in shares of F.N.B. by 2.3% in the fourth quarter. World Investment Advisors now owns 29,393 shares of the bank’s stock valued at $434,000 after buying an additional 667 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of F.N.B. by 1.4% in the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank’s stock valued at $770,000 after purchasing an additional 708 shares in the last quarter. Forum Financial Management LP lifted its position in shares of F.N.B. by 5.9% during the 4th quarter. Forum Financial Management LP now owns 13,258 shares of the bank’s stock worth $196,000 after buying an additional 744 shares during the last quarter. Arizona State Retirement System grew its position in F.N.B. by 0.7% in the fourth quarter. Arizona State Retirement System now owns 104,354 shares of the bank’s stock valued at $1,542,000 after acquiring an additional 765 shares during the last quarter. Finally, United Services Automobile Association raised its stake in F.N.B. by 3.7% during the fourth quarter. United Services Automobile Association now owns 24,524 shares of the bank’s stock worth $362,000 after acquiring an additional 870 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Trading Up 3.9 %

The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 3.60 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $13.68 and its two-hundred day moving average price is $14.76.

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.