F.N.B. (NYSE:FNB) Announces Quarterly Earnings Results

F.N.B. (NYSE:FNB) announced its quarterly earnings results on Thursday. The bank reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42, Zacks reports. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.

F.N.B. Trading Up 1.8%

NYSE FNB traded up $0.35 during mid-day trading on Thursday, reaching $19.43. 7,366,111 shares of the stock were exchanged, compared to its average volume of 6,450,998. F.N.B. has a 1-year low of $14.45 and a 1-year high of $19.59. The business’s fifty day simple moving average is $18.15 and its 200 day simple moving average is $17.64. The stock has a market capitalization of $6.92 billion, a PE ratio of 11.99, a PEG ratio of 0.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92.

Wall Street Analysts Forecast Growth

FNB has been the subject of several recent research reports. Truist Financial raised their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on 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 reaffirmed a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Wall Street Zen downgraded F.N.B. from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Piper Sandler boosted their price target on F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, F.N.B. currently has a consensus rating of “Buy” and an average price target of $20.80.

Insiders Place Their Bets

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 completion of the transaction, the insider directly owned 298,097 shares in the company, valued at approximately $5,523,737.41. The trade was a 5.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

A number of hedge funds and other institutional investors have recently made changes to their positions in FNB. Captrust Financial Advisors boosted its stake in F.N.B. by 7.4% in the 4th quarter. Captrust Financial Advisors now owns 98,869 shares of the bank’s stock worth $1,691,000 after buying an additional 6,821 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of F.N.B. by 53.2% during the 4th quarter. Brooklyn Investment Group now owns 63,101 shares of the bank’s stock worth $1,098,000 after acquiring an additional 21,901 shares during the period. Entropy Technologies LP acquired a new stake in shares of F.N.B. in the third quarter worth approximately $960,000. Russell Investments Group Ltd. boosted its position in shares of F.N.B. by 23.8% in the third quarter. Russell Investments Group Ltd. now owns 153,199 shares of the bank’s stock worth $2,468,000 after acquiring an additional 29,428 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in F.N.B. by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock valued at $2,058,000 after purchasing an additional 29,248 shares during the period. 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.