F.N.B. (NYSE:FNB) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

F.N.B. (NYSE:FNB) announced its earnings results on Tuesday. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09, Zacks reports. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%.

F.N.B. Trading Down 0.6%

NYSE FNB traded down $0.10 during trading hours on Tuesday, hitting $17.26. 9,596,315 shares of the company’s stock were exchanged, compared to its average volume of 6,204,350. The stock has a 50-day simple moving average of $16.99 and a 200 day simple moving average of $16.27. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.83 and a beta of 0.91. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. F.N.B. has a 1-year low of $10.88 and a 1-year high of $17.93.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. F.N.B.’s dividend payout ratio (DPR) is 34.53%.

Insider Activity

In other news, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction on 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 in the company, valued at $4,945,532.61. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James L. Dutey sold 40,000 shares of the company’s 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 completion of the sale, the insider directly owned 49,936 shares of the company’s stock, valued at $836,428. The trade was a 44.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of F.N.B. by 11.6% during the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after acquiring an additional 28,570 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in F.N.B. by 23.6% during 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 acquiring an additional 29,248 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 660,387 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 worth $14,112,000 after acquiring an additional 58,672 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of F.N.B. by 3,723.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock worth $36,000 after acquiring an additional 2,420 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FNB has been the subject of several recent analyst reports. DA Davidson downgraded shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler began coverage on F.N.B. in a research report on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 price target for the company. Truist Financial set a $19.00 price target on F.N.B. in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.10.

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.