F.N.B. (NYSE:FNB) Posts Earnings Results, Beats Estimates By $0.09 EPS

F.N.B. (NYSE:FNB) posted its quarterly earnings data on Tuesday. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09, Zacks reports. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%.

F.N.B. Trading Down 0.6%

FNB traded down $0.10 during trading on Tuesday, hitting $17.26. 9,599,132 shares of the stock traded hands, compared to its average volume of 6,204,350. The firm has a market capitalization of $6.18 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.83 and a beta of 0.91. F.N.B. has a 12-month low of $10.88 and a 12-month high of $17.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $16.99 and a 200 day moving average of $16.27.

F.N.B. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, December 1st. F.N.B.’s dividend payout ratio is currently 34.53%.

Insider Activity

In other 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 transaction of $265,050.00. Following the completion of the transaction, the insider directly owned 279,883 shares of the company’s stock, valued at approximately $4,945,532.61. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $16.75, for a total value of $670,000.00. Following the transaction, the insider directly owned 49,936 shares of the company’s stock, valued at $836,428. The trade was a 44.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of F.N.B.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors grew its holdings in shares of F.N.B. by 1.8% during the 2nd quarter. Captrust Financial Advisors now owns 87,304 shares of the bank’s stock worth $1,273,000 after acquiring an additional 1,514 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of F.N.B. by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock valued at $2,058,000 after purchasing an additional 29,248 shares during the period. Royal Bank of Canada boosted its position in shares of F.N.B. by 11.6% during the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock valued at $3,692,000 after purchasing an additional 28,570 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock worth $36,000 after purchasing an additional 2,420 shares during the period. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.