F.N.B. (NYSE:FNB) Issues Earnings Results, Hits Expectations

F.N.B. (NYSE:FNBGet Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42, Zacks reports. The firm had revenue of $465.77 million for the quarter, compared to analyst estimates of $467.13 million. F.N.B. had a return on equity of 9.14% and a net margin of 22.29%.During the same period in the previous year, the company posted $0.36 earnings per share.

F.N.B. Trading Down 2.1%

NYSE:FNB opened at $19.07 on Friday. F.N.B. has a 1-year low of $14.45 and a 1-year high of $19.59. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.00 and a beta of 0.84. The business’s 50-day moving average price is $18.20 and its two-hundred day moving average price is $17.66.

Insider Buying and Selling at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of F.N.B. stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in F.N.B. by 3,723.1% during the second 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 in the last quarter. Triumph Capital Management bought a new position in F.N.B. in the third quarter valued at approximately $55,000. Parallel Advisors LLC grew its stake in F.N.B. by 18.9% in the third quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock valued at $73,000 after purchasing an additional 720 shares in the last quarter. Danske Bank A S acquired a new position in shares of F.N.B. during the 3rd quarter worth approximately $85,000. Finally, Fiduciary Trust Co acquired a new position in shares of F.N.B. during the 3rd quarter worth approximately $457,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

FNB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Truist Financial upped their target price on shares of F.N.B. from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research report on Tuesday, June 9th. Piper Sandler upped their price objective on shares of F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Wells Fargo & Company raised their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, F.N.B. currently has an average rating of “Buy” and a consensus price target of $20.80.

Read Our Latest Report on F.N.B.

F.N.B. News Summary

Here are the key news stories impacting F.N.B. this week:

F.N.B. Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for F.N.B. (NYSE:FNB)

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