F.N.B. (NYSE:FNB) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

F.N.B. (NYSE:FNB) had its price target lowered by Wells Fargo & Company from $19.00 to $18.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other analysts also recently weighed in on FNB. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Raymond James raised their target price on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

F.N.B. Stock Performance

Shares of FNB stock opened at $14.68 on Monday. The stock has a market capitalization of $5.28 billion, a PE ratio of 13.47 and a beta of 1.01. The business’s 50 day simple moving average is $15.79 and its 200 day simple moving average is $14.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. F.N.B. has a one year low of $12.49 and a one year high of $17.70.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The firm had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. As a group, research analysts forecast that F.N.B. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.’s payout ratio is 44.04%.

Insider Buying and Selling

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,652,229 shares of the company’s stock, valued at $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.03% of the stock is owned by company insiders.

Institutional Trading of F.N.B.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNB. AQR Capital Management LLC boosted its position in shares of F.N.B. by 181.6% during the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after buying an additional 1,964,884 shares during the last quarter. Point72 Asset Management L.P. bought a new position in F.N.B. during the 3rd quarter valued at $14,190,000. Dimensional Fund Advisors LP boosted its holdings in F.N.B. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after acquiring an additional 647,335 shares during the last quarter. Jane Street Group LLC grew its stake in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock worth $5,038,000 after acquiring an additional 316,515 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of F.N.B. by 1.9% in the third quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after purchasing an additional 278,825 shares during the last quarter. 79.25% of the stock is owned by institutional investors.

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.