F.N.B. Corporation (NYSE:FNB) Sees Large Decline in Short Interest

F.N.B. Corporation (NYSE:FNB) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 12,121,107 shares, a drop of 19.1% from the December 15th total of 14,980,411 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 3,876,163 shares, the days-to-cover ratio is currently 3.1 days. Based on an average trading volume of 3,876,163 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other F.N.B. news, insider James L. Dutey sold 40,000 shares of the firm’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 value of $670,000.00. Following the sale, the insider owned 49,936 shares of the company’s stock, valued at $836,428. This trade represents a 44.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary L. Guerrieri sold 15,000 shares of the stock in a transaction that occurred 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 directly owned 279,883 shares of the company’s stock, valued at $4,945,532.61. This represents a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On F.N.B.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in shares of F.N.B. during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in F.N.B. by 3,723.1% during 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. Parallel Advisors LLC increased its holdings in F.N.B. by 22.8% during the 2nd quarter. Parallel Advisors LLC now owns 3,802 shares of the bank’s stock valued at $55,000 after purchasing an additional 706 shares in the last quarter. Triumph Capital Management bought a new position in F.N.B. in the 3rd quarter valued at $55,000. Finally, Danske Bank A S acquired a new position in F.N.B. in the third quarter worth $85,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

F.N.B. Price Performance

Shares of FNB stock traded down $0.14 during trading hours on Monday, hitting $17.33. The company had a trading volume of 12,559,716 shares, compared to its average volume of 4,018,205. F.N.B. has a 12 month low of $10.88 and a 12 month high of $17.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $16.96 and its 200 day moving average is $16.26. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.83 and a beta of 0.91.

F.N.B. (NYSE:FNB) last posted its earnings results on Friday, October 17th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $457.50 million during the quarter, compared to the consensus estimate of $448.10 million. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.During the same quarter last year, the company earned $0.34 EPS. On average, sell-side analysts predict that F.N.B. will post 1.45 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently announced 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 dividend yield of 2.8%. F.N.B.’s dividend payout ratio (DPR) is 34.53%.

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.