F.N.B. (NYSE:FNB) Hits New 1-Year High – Here’s Why

F.N.B. Corporation (NYSE:FNB) shares reached a new 52-week high on Wednesday . The stock traded as high as $19.34 and last traded at $19.2840, with a volume of 414269 shares changing hands. The stock had previously closed at $19.08.

Analysts Set New Price Targets

FNB has been the topic of several research reports. Piper Sandler lifted their price objective on shares of F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Truist Financial upped their price objective on F.N.B. from $19.50 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Keefe, Bruyette & Woods increased their price objective on F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.40.

F.N.B. Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $6.94 billion, a PE ratio of 12.03, a P/E/G ratio of 0.91 and a beta of 0.84. The company’s fifty day simple moving average is $17.89 and its 200 day simple moving average is $17.54.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $450.00 million for the quarter, compared to analyst estimates of $454.06 million. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts expect that F.N.B. Corporation will post 1.73 EPS for the current fiscal year.

F.N.B. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from F.N.B.’s previous quarterly dividend of $0.12. F.N.B.’s payout ratio is presently 32.10%.

Insider Transactions at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the sale, the insider owned 298,097 shares in the company, valued at $5,523,737.41. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by insiders.

Institutional Trading of F.N.B.

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in F.N.B. by 4.3% in the 4th quarter. GAMMA Investing LLC now owns 15,745 shares of the bank’s stock worth $269,000 after purchasing an additional 649 shares during the period. Parallel Advisors LLC lifted its holdings in shares of F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock worth $73,000 after buying an additional 720 shares in the last quarter. Quent Capital LLC boosted its position in shares of F.N.B. by 6.6% in the fourth quarter. Quent Capital LLC now owns 11,823 shares of the bank’s stock valued at $202,000 after acquiring an additional 734 shares during the period. Root Financial Partners LLC boosted its position in shares of F.N.B. by 66.8% in the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock valued at $34,000 after acquiring an additional 820 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in F.N.B. by 61.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,602 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,369 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

About F.N.B.

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.