F.N.B. (NYSE:FNB) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of F.N.B. (NYSE:FNB) from a hold rating to a sell rating in a research note released on Tuesday morning.

Several other equities research analysts have also commented on FNB. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Wells Fargo & Company increased their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a report on Monday, July 20th. Bank of America reissued a “neutral” rating and issued a $19.00 price objective (down from $20.00) on shares of F.N.B. in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods upped their target price on F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.70.

F.N.B. Stock Performance

FNB stock opened at $19.00 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50-day moving average price of $18.49 and a 200 day moving average price of $17.76. The company has a market capitalization of $6.77 billion, a P/E ratio of 11.31, a PEG ratio of 1.21 and a beta of 0.84. F.N.B. has a 1-year low of $14.45 and a 1-year high of $19.59.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Thursday, July 16th. The bank reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. F.N.B. had a net margin of 22.29% and a return on equity of 9.10%. The company had revenue of $465.77 million during the quarter, compared to analyst estimates of $467.13 million. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, equities research analysts forecast that F.N.B. will post 1.69 EPS for the current fiscal year.

F.N.B. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.52 dividend on an annualized basis and a yield of 2.7%. F.N.B.’s payout ratio is currently 30.95%.

Insider Activity at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the sale, the insider directly owned 298,097 shares of the company’s stock, valued at approximately $5,523,737.41. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of F.N.B. by 18.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock valued at $73,000 after acquiring an additional 720 shares during the period. Quent Capital LLC boosted its position in shares of F.N.B. by 6.6% during the 4th quarter. Quent Capital LLC now owns 11,823 shares of the bank’s stock worth $202,000 after purchasing an additional 734 shares during the period. 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 valued at $34,000 after purchasing an additional 820 shares during the last quarter. Versant Capital Management Inc increased its holdings in F.N.B. by 9.7% in the 2nd quarter. Versant Capital Management Inc now owns 11,861 shares of the bank’s stock valued at $226,000 after purchasing an additional 1,044 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in F.N.B. by 61.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,602 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,369 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

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.