F.N.B. (NYSE:FNB) Reaches New 12-Month High on Earnings Beat

F.N.B. Corporation (NYSE:FNB)’s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $17.97 and last traded at $17.8550, with a volume of 2603376 shares trading hands. The stock had previously closed at $17.27.

The bank reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%. The company had revenue of $457.78 million during the quarter, compared to analysts’ expectations of $457.87 million. During the same quarter in the previous year, the business posted $0.30 EPS.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, December 1st. F.N.B.’s dividend payout ratio is 34.53%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler began coverage on shares of F.N.B. in a report on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 price objective on the stock. Truist Financial set a $19.00 price target on shares of F.N.B. in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Monday, December 29th. Finally, DA Davidson cut F.N.B. from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.10.

Insider Activity

In other F.N.B. news, insider Gary L. Guerrieri sold 15,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total value of $265,050.00. Following the transaction, the insider directly owned 279,883 shares in the company, valued at approximately $4,945,532.61. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James L. Dutey sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.75, for a total value of $670,000.00. Following the sale, the insider owned 49,936 shares of the company’s stock, valued at $836,428. This trade represents a 44.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised 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 worth $20,353,000 after buying an additional 660,387 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in shares of F.N.B. during the second quarter worth about $3,440,000. BNP Paribas Financial Markets increased its stake in shares of F.N.B. by 454.4% during the third quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock worth $3,550,000 after acquiring an additional 180,610 shares during the period. Tradewinds LLC. purchased a new position in F.N.B. during the third quarter worth about $1,444,000. Finally, Pacer Advisors Inc. acquired a new stake in F.N.B. in the third quarter valued at about $1,097,000. 79.25% of the stock is owned by institutional investors and hedge funds.

F.N.B. Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $16.28. The company has a market cap of $6.38 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.83 and a beta of 0.91.

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.