F.N.B. (NYSE:FNB) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of F.N.B. (NYSE:FNB) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports. The firm currently has $14.50 price target on the bank’s stock.

According to Zacks, “We have initiated coverage on F.N.B. Corp. Its shares have outperformed the industry over the past three months. It has an impressive earnings surprise history, having outpaced the Zacks Consensus Estimate in each of the trailing four quarters. Supported by solid loans and deposit balances, efforts to improve fee income and opportunistic acquisitions, the company remains well-positioned for revenue growth. The manageable debt level and solid liquidity position bode well for the future. Also, the company's capital deployment activities seem impressive, through which it will keep enhancing shareholder value. However, the low-interest-rate environment remains a major concern for the company as it is expected to continue putting pressure on margins in the near term. Moreover, elevated expenses might hamper the bottom-line growth to some extent.”

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on F.N.B. from $13.50 to $14.50 and gave the stock an overweight rating in a research note on Tuesday, January 4th. DA Davidson reissued a buy rating on shares of F.N.B. in a report on Wednesday, October 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, F.N.B. has an average rating of Buy and an average target price of $13.49.

Shares of F.N.B. stock opened at $13.99 on Wednesday. F.N.B. has a 12-month low of $9.79 and a 12-month high of $14.00. The stock has a market cap of $4.46 billion, a P/E ratio of 12.17 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $12.40 and its 200-day moving average is $11.92.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Sunday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. F.N.B. had a return on equity of 8.20% and a net margin of 28.01%. The company had revenue of $321.26 million for the quarter, compared to analysts’ expectations of $306.91 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that F.N.B. will post 1.22 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in F.N.B. by 0.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 106,486 shares of the bank’s stock valued at $1,237,000 after buying an additional 804 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in F.N.B. by 23.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,249 shares of the bank’s stock valued at $49,000 after buying an additional 816 shares in the last quarter. Corient Capital Partners LLC grew its holdings in shares of F.N.B. by 6.8% during the 2nd quarter. Corient Capital Partners LLC now owns 14,485 shares of the bank’s stock worth $179,000 after purchasing an additional 919 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of F.N.B. by 3.1% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 33,403 shares of the bank’s stock worth $388,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of F.N.B. by 1.4% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 73,678 shares of the bank’s stock worth $856,000 after purchasing an additional 1,007 shares in the last quarter. 77.29% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Company Profile

F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.

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Analyst Recommendations for F.N.B. (NYSE:FNB)

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