F.N.B. (NYSE:FNB) Reaches New 52-Week High on Strong Earnings

F.N.B. Corporation (NYSE:FNB)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $17.97 and last traded at $17.8550, with a volume of 2603376 shares trading hands. The stock had previously closed at $17.27.

The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%. The company had revenue of $457.78 million during the quarter, compared to the consensus estimate of $457.87 million. During the same quarter in the prior year, the firm earned $0.30 EPS.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.12 per share. The ex-dividend date was Monday, December 1st. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. F.N.B.’s dividend payout ratio (DPR) is presently 34.53%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FNB shares. DA Davidson downgraded F.N.B. from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler started coverage on shares of F.N.B. in a research note on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 target price on the stock. Truist Financial set a $19.00 target price on shares of F.N.B. in a report on Tuesday, January 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, F.N.B. presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.10.

Insider Activity

In other F.N.B. news, insider Gary L. Guerrieri sold 15,000 shares of F.N.B. stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $17.67, for a total transaction of $265,050.00. Following the completion of the sale, the insider directly owned 279,883 shares in the company, valued at $4,945,532.61. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James L. Dutey sold 40,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 49,936 shares in the company, valued at approximately $836,428. This represents 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.

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock worth $20,353,000 after acquiring an additional 660,387 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in F.N.B. in the second quarter valued at $3,440,000. BNP Paribas Financial Markets grew its stake in F.N.B. by 454.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock worth $3,550,000 after purchasing an additional 180,610 shares in the last quarter. Tradewinds LLC. purchased a new stake in F.N.B. during the 3rd quarter worth about $1,444,000. Finally, Pacer Advisors Inc. acquired a new stake in F.N.B. in the 3rd quarter valued at about $1,097,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Stock Up 3.2%

The firm has a market cap of $6.38 billion, a PE ratio of 12.83, 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. The firm has a 50 day moving average price of $17.01 and a 200-day moving average price of $16.28.

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.