F.N.B. (NYSE:FNB) Reaches New 52-Week High – Still a Buy?

Shares of F.N.B. Corporation (NYSE:FNBGet Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $19.58 and last traded at $19.5350, with a volume of 2399487 shares trading hands. The stock had previously closed at $19.08.

F.N.B. News Roundup

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

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on FNB

F.N.B. Stock Down 2.1%

The company’s fifty day moving average price is $18.20 and its 200-day moving average price is $17.66. The stock has a market cap of $6.79 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92.

F.N.B. (NYSE:FNBGet Free Report) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $465.77 million for the quarter, compared to the consensus estimate of $467.13 million. F.N.B. had a net margin of 22.29% and a return on equity of 9.14%. During the same period in the prior year, the firm posted $0.36 EPS. Equities analysts forecast that F.N.B. Corporation will post 1.73 EPS for the current year.

Insider Activity

In related news, insider Gary L. Guerrieri sold 19,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the transaction, the insider owned 298,097 shares in the company, valued at $5,523,737.41. The trade was a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of F.N.B.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 660,387 shares during the period. Rhino Investment Partners Inc lifted its holdings in F.N.B. by 47.8% during the 1st quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock valued at $20,188,000 after buying an additional 390,526 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in F.N.B. by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after buying an additional 58,672 shares in the last quarter. Congress Asset Management Co. boosted its position in F.N.B. by 2.6% in the 4th quarter. Congress Asset Management Co. now owns 466,393 shares of the bank’s stock valued at $7,975,000 after buying an additional 11,841 shares during the period. Finally, SG Americas Securities LLC boosted its position in F.N.B. by 585.2% in the 1st quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock valued at $5,990,000 after buying an additional 305,961 shares during the period. 79.25% of the stock is currently owned by institutional investors.

About F.N.B.

(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

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