F.N.B. (NYSE:FNB) Reaches New 1-Year High – Here’s Why

F.N.B. Corporation (NYSE:FNB) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.83 and last traded at $17.6350, with a volume of 1514818 shares trading hands. The stock had previously closed at $17.47.

Wall Street Analysts Forecast Growth

FNB has been the topic of a number of research analyst reports. DA Davidson cut shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a research report on Monday. Truist Financial boosted their price target on shares of F.N.B. from $18.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Piper Sandler initiated coverage on shares of F.N.B. in a research note on Wednesday, December 3rd. They issued an “overweight” rating and a $19.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.00.

F.N.B. Trading Up 1.1%

The company has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $15.72. 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 stock has a market capitalization of $6.33 billion, a PE ratio of 12.69, a P/E/G ratio of 0.90 and a beta of 0.93.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share (EPS) for the quarter. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.The business had revenue of $419.30 million for the quarter. Analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

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

Insider Activity

In related news, insider James L. Dutey sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total value of $670,000.00. Following the completion of the sale, the insider owned 49,936 shares in the company, valued at $836,428. This trade represents a 44.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary L. Guerrieri sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total value of $265,050.00. Following the transaction, the insider owned 279,883 shares in the company, valued at $4,945,532.61. The trade was a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

Several institutional investors have recently made changes to their positions in FNB. AQR Capital Management LLC increased its holdings in shares of F.N.B. by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank’s stock valued at $25,204,000 after purchasing an additional 505,780 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 valued at $20,353,000 after buying an additional 660,387 shares in the last quarter. Rhino Investment Partners Inc purchased a new position in F.N.B. in the first quarter valued at about $19,990,000. Wellington Management Group LLP lifted its position in shares of F.N.B. by 10.0% during the 1st quarter. Wellington Management Group LLP now owns 1,169,933 shares of the bank’s stock valued at $15,736,000 after acquiring an additional 106,571 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 purchasing an additional 58,672 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Company Profile

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.