F.N.B. (NYSE:FNB) Price Target Raised to $21.00

F.N.B. (NYSE:FNB) had its target price raised by Keefe, Bruyette & Woods from $20.00 to $21.00 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

A number of other research firms also recently issued reports on FNB. Truist Financial raised their price target on F.N.B. from $19.50 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $21.00 price objective (up from $20.00) on shares of F.N.B. in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, F.N.B. has a consensus rating of “Buy” and an average price target of $20.20.

F.N.B. Stock Performance

Shares of NYSE FNB opened at $17.64 on Monday. The firm’s 50-day moving average price is $17.09 and its 200-day moving average price is $16.91. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The company has a market cap of $6.27 billion, a PE ratio of 10.89, a PEG ratio of 0.86 and a beta of 0.87. F.N.B. has a 52-week low of $12.88 and a 52-week high of $19.14.

F.N.B. (NYSE:FNB) last released its quarterly earnings results on Thursday, April 16th. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $450.26 million for the quarter, compared to the consensus estimate of $454.06 million. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.During the same period last year, the business posted $0.32 EPS. As a group, analysts anticipate that F.N.B. will post 1.72 EPS for the current year.

F.N.B. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.13 per share. This is an increase from F.N.B.’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, June 1st. F.N.B.’s payout ratio is presently 32.10%.

Hedge Funds Weigh In On F.N.B.

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in F.N.B. by 77.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after purchasing an additional 660,387 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in F.N.B. by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after purchasing an additional 58,672 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of F.N.B. by 2.6% in the fourth quarter. Congress Asset Management Co. now owns 466,393 shares of the bank’s stock valued at $7,975,000 after acquiring an additional 11,841 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of F.N.B. by 585.2% in the first quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock valued at $5,990,000 after acquiring an additional 305,961 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of F.N.B. by 11.6% in the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock valued at $3,692,000 after acquiring an additional 28,570 shares in the last quarter. 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.