Truist Financial Issues Pessimistic Forecast for F.N.B. (NYSE:FNB) Stock Price

F.N.B. (NYSE:FNB) had its price objective cut by equities research analysts at Truist Financial from $20.50 to $19.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 10.82% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised F.N.B. from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Bank of America restated a “neutral” rating and set a $19.00 price objective (down from $20.00) on shares of F.N.B. in a report on Monday, July 20th. UBS Group began coverage on shares of F.N.B. in a research note on Monday, September 14th. They issued a “neutral” rating and a $20.00 target price for the company. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research report on Monday, July 20th. Finally, Wells Fargo & Company cut their price target on shares of F.N.B. from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, F.N.B. presently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

F.N.B. Stock Down 0.8%

Shares of FNB stock traded down $0.14 during trading hours on Friday, reaching $17.14. 896,836 shares of the company’s stock were exchanged, compared to its average volume of 5,848,980. F.N.B. has a fifty-two week low of $14.45 and a fifty-two week high of $19.59. The stock’s 50 day moving average is $18.30 and its 200-day moving average is $18.09. 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 company has a market cap of $6.05 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 1.08 and a beta of 0.87.

F.N.B. (NYSE:FNB) last announced its earnings results on Friday, July 17th. The bank reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.The firm had revenue of $463.00 million for the quarter, compared to the consensus estimate of $467.13 million. During the same period in the previous year, the business earned $0.36 EPS. Analysts predict that F.N.B. will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling at F.N.B.

In other news, insider Bryant Mitchell David sold 4,055 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $19.25, for a total value of $78,058.75. Following the transaction, the insider directly owned 144,283 shares of the company’s stock, valued at approximately $2,777,447.75. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On F.N.B.

Institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC increased its holdings in F.N.B. by 66.8% in the 1st quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock worth $34,000 after buying an additional 820 shares during the period. Parkside Financial Bank & Trust lifted its stake in F.N.B. by 50.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,289 shares of the bank’s stock valued at $63,000 after acquiring an additional 1,106 shares during the period. Nykredit A S purchased a new stake in shares of F.N.B. in the 2nd quarter valued at $121,000. Pinnacle Holdings LLC purchased a new stake in shares of F.N.B. in the 2nd quarter valued at $135,000. Finally, IFP Advisors Inc increased its stake in shares of F.N.B. by 45.3% in the second quarter. IFP Advisors Inc now owns 7,248 shares of the bank’s stock worth $138,000 after acquiring an additional 2,261 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 (NYSE:FNB) is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal subsidiary, First National Bank, the company provides banking and related financial services to consumers, businesses, government entities and institutions.

FNB’s products and services include checking and savings accounts, consumer and residential lending, commercial loans, treasury management, electronic banking and credit-related services. The company also offers wealth management, trust and investment services, insurance solutions and capital markets services through specialized business units.

First National Bank traces its history to 1864, when it was established in Greenville, Pennsylvania.