F.N.B. (NYSE:FNB) Reaches New 52-Week High – Time to Buy?

by · The Cerbat Gem

Shares of F.N.B. Corporation (NYSE:FNB – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $16.95 and last traded at $16.9250, with a volume of 966852 shares. The stock had previously closed at $16.62.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler initiated coverage on shares of F.N.B. in a research report on Wednesday. They issued an “overweight” rating and a $19.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday. DA Davidson cut shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Truist Financial boosted their price objective on shares of F.N.B. from $18.00 to $18.50 and gave the company a “buy” rating in a report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, F.N.B. currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Read Our Latest Analysis on FNB

F.N.B. Price Performance

The firm’s fifty day moving average price is $15.94 and its 200 day moving average price is $15.51. The firm has a market capitalization of $6.06 billion, a PE ratio of 12.17, a P/E/G ratio of 0.88 and a beta of 0.93. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.

F.N.B. (NYSE:FNB – Get Free Report) last issued its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share (EPS) for the quarter. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%. The firm had revenue of $419.30 million during the quarter. As a group, equities analysts forecast that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.12 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.8%. F.N.B.’s dividend payout ratio is presently 34.53%.

Insiders Place Their Bets

In other F.N.B. news, insider James L. Dutey sold 40,000 shares of the business’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 completion of the transaction, the insider directly owned 49,936 shares of the company’s stock, valued at approximately $836,428. The trade was a 44.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in F.N.B. by 55.7% during the first quarter. Cetera Investment Advisers now owns 191,530 shares of the bank’s stock worth $2,576,000 after buying an additional 68,548 shares in the last quarter. LPL Financial LLC boosted its stake in shares of F.N.B. by 0.4% during the 1st quarter. LPL Financial LLC now owns 224,171 shares of the bank’s stock worth $3,015,000 after acquiring an additional 886 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of F.N.B. during the 1st quarter valued at about $641,000. PNC Financial Services Group Inc. increased its stake in shares of F.N.B. by 3.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 76,618 shares of the bank’s stock valued at $1,031,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in F.N.B. by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 39,531,150 shares of the bank’s stock worth $531,694,000 after purchasing an additional 114,672 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Company Profile

(Get Free Report)

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.

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