F.N.B. (NYSE:FNB) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

F.N.B. Corporation (NYSE:FNB)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.83 and traded as high as $19.44. F.N.B. shares last traded at $18.9910, with a volume of 2,784,661 shares traded.

Analyst Upgrades and Downgrades

FNB has been the subject of a number of research analyst reports. Truist Financial lowered their price target on F.N.B. from $21.00 to $20.50 and set a “buy” rating for the company in a report on Monday, July 20th. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research report on Tuesday, June 9th. Wells Fargo & Company upped their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research report on Monday, July 20th. Finally, Bank of America reiterated a “neutral” rating and set a $19.00 price target (down from $20.00) on shares of F.N.B. in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.70.

F.N.B. Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92. The stock’s fifty day moving average price is $18.65 and its 200-day moving average price is $17.83. The firm has a market cap of $6.76 billion, a PE ratio of 11.30, a P/E/G ratio of 1.22 and a beta of 0.85.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 $463.00 million for the quarter, compared to the consensus estimate of $467.13 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, equities analysts forecast that F.N.B. Corporation will post 1.69 EPS for the current fiscal year.

F.N.B. Announces Dividend

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

Insiders Place Their Bets

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $18.53, for a total value of $352,070.00. Following the completion of the transaction, the insider owned 298,097 shares in the company, valued at $5,523,737.41. This represents a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Trading of F.N.B.

Several hedge funds and other institutional investors have recently bought and sold shares of FNB. Royal Bank of Canada lifted its holdings in shares of F.N.B. by 11.6% in the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after purchasing an additional 28,570 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in F.N.B. by 23.6% during 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. Goldman Sachs Group Inc. grew its stake in F.N.B. by 77.4% during the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in F.N.B. by 5.9% in the first 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 buying an additional 58,672 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in F.N.B. by 3,723.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock worth $36,000 after buying an additional 2,420 shares during the period. 79.25% of the stock is owned by institutional investors.

F.N.B. Company Profile

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.