F.N.B. (NYSE:FNB) Hits New 52-Week High – Here’s Why

F.N.B. Corporation (NYSE:FNB)’s stock price hit a new 52-week high on Thursday . The company traded as high as $19.58 and last traded at $19.5350, with a volume of 2399487 shares changing hands. The stock had previously closed at $19.08.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FNB shares. Keefe, Bruyette & Woods increased their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Truist Financial upped their target price on F.N.B. from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 10th. Wall Street Zen cut F.N.B. from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Finally, 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 report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.80.

F.N.B. Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50 day simple moving average is $18.15 and its 200-day simple moving average is $17.64. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. The company had revenue of $450.00 million for the quarter, compared to analyst estimates of $454.06 million. During the same quarter last year, the business earned $0.32 earnings per share. Research analysts anticipate that F.N.B. Corporation will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

A number of institutional investors have recently added to or reduced their stakes in FNB. CoreCap Advisors LLC bought a new position in F.N.B. during the 4th quarter valued at $34,000. Root Financial Partners LLC lifted its holdings in shares of F.N.B. by 66.8% in the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock valued at $34,000 after buying an additional 820 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 period. Triumph Capital Management bought a new position in F.N.B. during the third quarter valued at about $55,000. Finally, Parallel Advisors LLC boosted its stake in F.N.B. by 18.9% during the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock valued at $73,000 after buying an additional 720 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

About F.N.B.

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.