F.N.B. (NYSE:FNB) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

F.N.B. Corporation (NYSE:FNB)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $17.90 and traded as low as $17.80. F.N.B. shares last traded at $17.8780, with a volume of 4,694,145 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group initiated coverage on F.N.B. in a report on Monday, September 14th. They issued a “neutral” rating and a $20.00 target price for the company. Bank of America downgraded F.N.B. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Monday, July 20th. Truist Financial dropped their price target on F.N.B. from $20.50 to $19.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a research report on Friday, September 4th. Finally, Wall Street Zen raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, F.N.B. presently has a consensus rating of “Moderate Buy” and an average price target of $20.29.

F.N.B. Stock Down 3.1%

The business’s 50 day simple moving average is $17.82 and its 200-day simple moving average is $17.90. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.91.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Tuesday, October 20th. The bank reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. F.N.B. had a net margin of 22.46% and a return on equity of 9.12%. The business had revenue of $469.00 million for the quarter, compared to analysts’ expectations of $476.20 million. During the same period in the previous year, the company posted $0.41 EPS. Sell-side analysts expect that F.N.B. Corporation will post 1.69 earnings per share for the current year.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.9%. F.N.B.’s dividend payout ratio (DPR) is presently 30.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FNB. Assenagon Asset Management S.A. raised its stake in shares of F.N.B. by 758.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 922,134 shares of the bank’s stock worth $15,870,000 after purchasing an additional 814,690 shares in the last quarter. Rhino Investment Partners Inc lifted its holdings in shares of F.N.B. by 47.8% during the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock valued at $20,188,000 after buying an additional 390,526 shares during the last quarter. Amundi grew its stake in shares of F.N.B. by 980.6% in the 2nd quarter. Amundi now owns 382,193 shares of the bank’s stock valued at $7,292,000 after buying an additional 346,824 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of F.N.B. in the 1st quarter valued at approximately $3,381,000. Finally, Wellington Management Group LLP increased its holdings in F.N.B. by 12.5% in the second quarter. Wellington Management Group LLP now owns 1,318,016 shares of the bank’s stock worth $25,148,000 after buying an additional 146,571 shares during 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 (NYSE: FNB) is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, First National Bank, the company provides banking, lending and wealth management services to individuals, families, businesses and government entities.

FNB’s offerings include checking and savings accounts, certificates of deposit, residential and consumer loans, commercial real estate and business lending, treasury management and cash-management services.