F.N.B. (NYSE:FNB) Hits New 52-Week High – Here’s What Happened

Shares of F.N.B. Corporation (NYSE:FNB) hit a new 52-week high during trading on Wednesday . The company traded as high as $17.83 and last traded at $17.6350, with a volume of 1514818 shares traded. The stock had previously closed at $17.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FNB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a research note on Monday. Truist Financial upped their price target on F.N.B. from $18.00 to $18.50 and gave the company a “buy” rating in a research note on Monday, October 20th. Piper Sandler began coverage on shares of F.N.B. in a research note on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 price objective on the stock. Finally, DA Davidson lowered shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.00.

F.N.B. Stock Performance

The stock has a market cap of $6.36 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $16.18 and its two-hundred day simple moving average is $15.74.

F.N.B. (NYSE:FNB) last issued its quarterly earnings data on Thursday, June 20th. The bank reported $0.40 EPS for the quarter. The business had revenue of $419.30 million for the quarter. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%. As a group, research analysts forecast that F.N.B. Corporation will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, December 1st. F.N.B.’s dividend payout ratio is currently 34.53%.

Insider Buying and Selling

In other F.N.B. news, insider James L. Dutey sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.75, for a total transaction of $670,000.00. Following the transaction, the insider owned 49,936 shares of the company’s stock, valued at $836,428. The trade was a 44.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total value of $265,050.00. Following the sale, the insider owned 279,883 shares in the company, valued at approximately $4,945,532.61. This represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F.N.B.

Hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of F.N.B. in the first quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its stake in F.N.B. by 3,723.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock valued at $36,000 after buying an additional 2,420 shares during the last quarter. AlphaQuest LLC raised its holdings in F.N.B. by 82.2% in the 1st quarter. AlphaQuest LLC now owns 3,295 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,487 shares during the period. Parallel Advisors LLC lifted its position in F.N.B. by 22.8% during the second quarter. Parallel Advisors LLC now owns 3,802 shares of the bank’s stock worth $55,000 after acquiring an additional 706 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in shares of F.N.B. during the third quarter worth approximately $55,000. Institutional investors and hedge funds 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.