F.N.B. (NYSE:FNB) Hits New 52-Week High – Here’s What Happened

F.N.B. Corporation (NYSE:FNB)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $19.14 and last traded at $19.0820, with a volume of 990571 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FNB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. Truist Financial increased their price target on shares of F.N.B. from $19.00 to $19.50 and gave the company a “buy” rating in a research report on Thursday, January 22nd. DA Davidson cut F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $21.00 price target (up from $20.00) on shares of F.N.B. in a report on Thursday, January 22nd. Five 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

F.N.B. Stock Up 0.2%

The company’s 50 day moving average price is $17.48 and its two-hundred day moving average price is $16.47. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.28. The firm has a market cap of $6.78 billion, a PE ratio of 12.14, a PEG ratio of 0.85 and a beta of 0.92.

F.N.B. (NYSE:FNB) last released its earnings results on Tuesday, January 20th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $457.78 million during the quarter, compared to analysts’ expectations of $457.87 million. F.N.B. had a return on equity of 8.76% and a net margin of 20.98%.During the same quarter last year, the business posted $0.30 earnings per share. On average, equities research analysts expect that F.N.B. Corporation will post 1.45 EPS for the current fiscal year.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, March 2nd. F.N.B.’s payout ratio is 30.77%.

Insider Buying and Selling at F.N.B.

In related news, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James L. Dutey sold 40,000 shares of F.N.B. stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.75, for a total transaction of $670,000.00. Following the transaction, the insider directly owned 49,936 shares in the company, valued at approximately $836,428. The trade was a 44.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in F.N.B. by 77.4% during the 1st 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. Stanley Laman Group Ltd. purchased a new position in shares of F.N.B. in the 2nd quarter valued at approximately $3,440,000. BNP Paribas Financial Markets boosted its stake in F.N.B. by 454.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock worth $3,550,000 after purchasing an additional 180,610 shares in the last quarter. Horizon Investments LLC purchased a new stake in F.N.B. during the 4th quarter worth approximately $2,182,000. Finally, Tradewinds LLC. acquired a new position in F.N.B. during the 3rd quarter valued at approximately $1,444,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

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.