F.N.B. (NYSE:FNB) Releases Earnings Results, Beats Expectations By $0.09 EPS

F.N.B. (NYSE:FNB) announced its quarterly earnings data on Tuesday. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09, Zacks reports. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.

F.N.B. Stock Down 0.6%

Shares of FNB stock traded down $0.10 on Tuesday, reaching $17.26. 9,596,315 shares of the stock were exchanged, compared to its average volume of 6,204,350. The business’s 50 day moving average price is $16.99 and its 200 day moving average price is $16.27. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.83 and a beta of 0.91. F.N.B. has a twelve month low of $10.88 and a twelve month high of $17.93. 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. Announces Dividend

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

Insider Transactions 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 value of $670,000.00. Following the completion of the sale, the insider owned 49,936 shares in the company, valued at approximately $836,428. The trade was a 44.48% 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 hyperlink. Also, insider Gary L. Guerrieri sold 15,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total transaction of $265,050.00. Following the sale, the insider owned 279,883 shares of the company’s stock, valued at $4,945,532.61. This trade represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On F.N.B.

A number of institutional investors have recently modified their holdings of FNB. Russell Investments Group Ltd. grew its stake in shares of F.N.B. by 23.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 153,199 shares of the bank’s stock valued at $2,468,000 after buying an additional 29,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in F.N.B. by 5.9% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of F.N.B. by 77.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after acquiring an additional 660,387 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in F.N.B. by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 153,039 shares of the bank’s stock valued at $2,058,000 after purchasing an additional 29,248 shares during the period. Finally, Royal Bank of Canada grew its position in F.N.B. by 11.6% during the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after buying an additional 28,570 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial set a $19.00 price objective on F.N.B. in a research report on Tuesday, January 13th. DA Davidson downgraded shares of F.N.B. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research report on Monday, December 29th. Finally, Piper Sandler initiated coverage on shares of F.N.B. in a research note on Wednesday, December 3rd. They set an “overweight” rating and a $19.00 target price on the stock. Five investment 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.10.

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.