F.N.B. (NYSE:FNB) Posts Quarterly Earnings Results, Hits Estimates

F.N.B. (NYSE:FNBGet Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42, Zacks reports. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. The business had revenue of $462.67 million during the quarter, compared to analyst estimates of $467.13 million. During the same quarter last year, the business earned $0.36 EPS.

F.N.B. Stock Up 1.8%

FNB opened at $19.43 on Friday. F.N.B. has a fifty-two week low of $14.45 and a fifty-two week high of $19.59. The firm has a market capitalization of $6.92 billion, a P/E ratio of 11.99, a PEG ratio of 0.98 and a beta of 0.84. The company’s 50-day moving average is $18.18 and its 200 day moving average is $17.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FNB shares. Keefe, Bruyette & Woods boosted their price target on shares of F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Wells Fargo & Company boosted their price objective on F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Piper Sandler boosted their price target on F.N.B. from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Truist Financial increased their price target on F.N.B. from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.80.

Read Our Latest Report on FNB

F.N.B. News Roundup

Here are the key news stories impacting F.N.B. this week:

Insider Buying and Selling at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.53, for a total value of $352,070.00. Following the transaction, the insider owned 298,097 shares of the company’s stock, valued at approximately $5,523,737.41. The trade was a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

Institutional Trading of F.N.B.

A number of large investors have recently bought and sold shares of FNB. Royal Bank of Canada grew its holdings in F.N.B. by 11.6% during the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock valued at $3,692,000 after buying an additional 28,570 shares in the last quarter. BNP Paribas Financial Markets grew its stake in F.N.B. by 454.4% during the third quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock valued at $3,550,000 after acquiring an additional 180,610 shares in the last quarter. Russell Investments Group Ltd. grew its stake in F.N.B. by 7.0% during the fourth quarter. Russell Investments Group Ltd. now owns 163,926 shares of the bank’s stock valued at $2,805,000 after acquiring an additional 10,727 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in F.N.B. by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock worth $2,058,000 after acquiring an additional 29,248 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in F.N.B. by 7.4% in the 4th quarter. Captrust Financial Advisors now owns 98,869 shares of the bank’s stock valued at $1,691,000 after purchasing an additional 6,821 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Company Profile

(Get Free Report)

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.

See Also

Earnings History for F.N.B. (NYSE:FNB)

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