F.N.B. (NYSE:FNB) Price Target Lowered to $20.50 at Truist Financial

F.N.B. (NYSE:FNB) had its price objective lowered by stock analysts at Truist Financial from $21.00 to $20.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 10.07% from the stock’s previous close.

Several other brokerages have also weighed in on FNB. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research report on Monday. Bank of America restated a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of F.N.B. in a research note on Monday. Wells Fargo & Company lifted their price target on F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Finally, Wall Street Zen raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, F.N.B. currently has an average rating of “Moderate Buy” and a consensus price target of $20.42.

F.N.B. Stock Down 2.8%

Shares of NYSE:FNB traded down $0.54 during midday trading on Monday, reaching $18.62. The company had a trading volume of 1,068,861 shares, compared to its average volume of 6,501,594. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. The stock’s fifty day moving average price is $18.20 and its 200-day moving average price is $17.66. The stock has a market capitalization of $6.63 billion, a P/E ratio of 11.09, 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.

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

Insider Buying and Selling at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the sale, the insider directly owned 298,097 shares of the company’s stock, valued at approximately $5,523,737.41. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

Several institutional investors have recently modified their holdings of FNB. Goldman Sachs Group Inc. raised its stake 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 period. Rhino Investment Partners Inc increased its holdings in shares of F.N.B. by 47.8% in the first quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock worth $20,188,000 after acquiring an additional 390,526 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of F.N.B. by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock worth $14,112,000 after acquiring an additional 58,672 shares in the last quarter. Congress Asset Management Co. raised its position in shares of F.N.B. by 2.6% during the fourth quarter. Congress Asset Management Co. now owns 466,393 shares of the bank’s stock worth $7,975,000 after purchasing an additional 11,841 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of F.N.B. by 585.2% during the first quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock worth $5,990,000 after purchasing an additional 305,961 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

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.