F.N.B. (NYSE:FNB) Sets New 12-Month High – Here’s What Happened

F.N.B. Corporation (NYSE:FNB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.93 and last traded at $17.8350, with a volume of 3094788 shares trading hands. The stock had previously closed at $17.76.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNB. Piper Sandler initiated coverage on shares of F.N.B. in a research report on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 price objective for the company. DA Davidson lowered shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research note on Monday, December 15th. Finally, Truist Financial raised their target price on F.N.B. from $18.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, October 20th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, F.N.B. has an average rating of “Moderate Buy” and an average price target of $19.00.

F.N.B. Stock Performance

The company has a market cap of $6.39 billion, a PE ratio of 12.83, a PEG ratio of 0.92 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50 day moving average is $16.27 and its 200-day moving average is $15.83.

F.N.B. (NYSE:FNB) last issued its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share for the quarter. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.The business had revenue of $419.30 million for the quarter. On average, research analysts anticipate that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. F.N.B.’s dividend payout ratio (DPR) is 34.53%.

Insider Activity

In related news, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $17.67, for a total value of $265,050.00. Following the completion of the sale, the insider owned 279,883 shares of the company’s stock, valued at approximately $4,945,532.61. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James L. Dutey sold 40,000 shares of F.N.B. stock in a transaction dated 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 directly owned 49,936 shares in the company, valued at $836,428. This trade represents a 44.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

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