F.N.B. (NYSE:FNB) Earns “Neutral” Rating from Bank of America

F.N.B. (NYSE:FNB)‘s stock had its “neutral” rating reaffirmed by Bank of America in a research note issued on Monday,Benzinga reports. They presently have a $19.00 target price on the bank’s stock, down from their previous target price of $20.00. Bank of America‘s price target indicates a potential downside of 0.38% from the stock’s current price.

FNB has been the subject of a number of other reports. Piper Sandler increased their price objective on shares of F.N.B. from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods raised their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Wall Street Zen upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, F.N.B. has an average rating of “Moderate Buy” and a consensus price target of $20.50.

F.N.B. Stock Down 0.5%

Shares of FNB stock opened at $19.07 on Monday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.98 and a beta of 0.84. F.N.B. has a one year low of $14.45 and a one year high of $19.59. The company’s fifty day moving average price is $18.20 and its 200-day moving average price is $17.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91.

F.N.B. (NYSE:FNB) last issued its earnings results on Thursday, July 16th. The bank reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The company had revenue of $465.77 million during the quarter, compared to the consensus estimate of $467.13 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts expect that F.N.B. will post 1.73 EPS for the current fiscal year.

Insider Activity 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 on Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the transaction, the insider directly owned 298,097 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F.N.B.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of F.N.B. by 4.3% during the 4th quarter. GAMMA Investing LLC now owns 15,745 shares of the bank’s stock worth $269,000 after acquiring an additional 649 shares in the last quarter. Parallel Advisors LLC raised its position in shares of F.N.B. by 18.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock worth $73,000 after acquiring an additional 720 shares in the last quarter. Quent Capital LLC raised its position in shares of F.N.B. by 6.6% during the 4th quarter. Quent Capital LLC now owns 11,823 shares of the bank’s stock worth $202,000 after acquiring an additional 734 shares in the last quarter. Root Financial Partners LLC lifted its stake in F.N.B. by 66.8% during the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock worth $34,000 after purchasing an additional 820 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in F.N.B. by 9.7% during the second quarter. Versant Capital Management Inc now owns 11,861 shares of the bank’s stock worth $226,000 after purchasing an additional 1,044 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

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.