F.N.B. (NYSE:FNB) Hits New 12-Month High – Should You Buy?

Shares of F.N.B. Corporation (NYSE:FNB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.32 and last traded at $19.2980, with a volume of 449039 shares trading hands. The stock had previously closed at $18.98.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FNB. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Truist Financial boosted their target price on shares of F.N.B. from $19.50 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods raised their price target on shares of F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, F.N.B. has an average rating of “Buy” and a consensus target price of $20.20.

F.N.B. Trading Up 0.3%

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 business has a 50 day simple moving average of $17.77 and a two-hundred day simple moving average of $17.48. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.84.

F.N.B. (NYSE:FNB) last announced its earnings results on Friday, April 17th. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. F.N.B. had a return on equity of 8.94% and a net margin of 21.64%.The company had revenue of $450.00 million for the quarter, compared to analyst estimates of $454.06 million. During the same period in the prior year, the company posted $0.32 EPS. As a group, equities analysts anticipate that F.N.B. Corporation will post 1.73 EPS for the current year.

F.N.B. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.13 per share. This is a positive change from F.N.B.’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, June 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.7%. F.N.B.’s payout ratio is currently 32.10%.

Insiders Place Their Bets

In other news, insider Gary L. Guerrieri sold 19,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On F.N.B.

Hedge funds have recently bought and sold shares of the company. Rhino Investment Partners Inc raised its stake in F.N.B. by 47.8% during the first 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. Entropy Technologies LP bought a new stake in shares of F.N.B. in the 1st quarter valued at approximately $427,000. Hillsdale Investment Management Inc. acquired a new stake in shares of F.N.B. during the 1st quarter valued at approximately $3,381,000. DGS Capital Management LLC acquired a new stake in shares of F.N.B. during the 1st quarter valued at approximately $312,000. Finally, 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. 79.25% of the stock is currently owned by institutional investors and hedge funds.

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.