F.N.B. (NYSE:FNB) Sets New 52-Week High – Here’s Why

Shares of F.N.B. Corporation (NYSE:FNB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.08 and last traded at $16.9850, with a volume of 6012957 shares trading hands. The stock had previously closed at $16.91.

Wall Street Analyst Weigh In

FNB has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on F.N.B. in a research note on Wednesday, December 3rd. They issued an “overweight” rating and a $19.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research report on Tuesday, December 2nd. Truist Financial raised their target price on shares of F.N.B. from $18.00 to $18.50 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, DA Davidson cut shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

F.N.B. Stock Up 0.4%

The stock’s fifty day moving average price is $15.97 and its 200-day moving average price is $15.57. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.87 and a beta of 0.93.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, June 20th. The bank reported $0.40 earnings per share for the quarter. F.N.B. had a net margin of 19.23% and a return on equity of 8.22%. The business had revenue of $419.30 million during the quarter. On average, sell-side analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

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

Insider Buying and Selling at F.N.B.

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 transaction of $670,000.00. Following the transaction, the insider owned 49,936 shares of the company’s stock, valued at $836,428. The trade was a 44.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is owned by company insiders.

Institutional Trading of F.N.B.

Large investors have recently added to or reduced their stakes in the company. Rhino Investment Partners Inc acquired a new position in shares of F.N.B. during the 1st quarter worth about $19,990,000. Goldman Sachs Group Inc. increased its position in 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 worth $20,353,000 after buying an additional 660,387 shares during the last quarter. AQR Capital Management LLC raised its stake in F.N.B. by 36.4% in the first quarter. AQR Capital Management LLC now owns 1,896,488 shares of the bank’s stock valued at $25,204,000 after buying an additional 505,780 shares during the period. Hsbc Holdings PLC lifted its position in shares of F.N.B. by 175.9% in the first quarter. Hsbc Holdings PLC now owns 740,798 shares of the bank’s stock valued at $9,935,000 after buying an additional 472,300 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in shares of F.N.B. during the 2nd quarter worth approximately $3,440,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

About F.N.B.

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.