F.N.B. (NYSE:FNB) Shares Gap Up After Strong Earnings

F.N.B. Co. (NYSE:FNB) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $12.23, but opened at $12.91. F.N.B. shares last traded at $12.72, with a volume of 694,693 shares.

The bank reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. During the same period in the previous year, the company posted $0.34 earnings per share.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.78%. F.N.B.’s dividend payout ratio is 38.10%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNB. DA Davidson upped their price objective on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler cut their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.17.

Insider Transactions at F.N.B.

In other F.N.B. news, Director William B. Campbell acquired 3,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the acquisition, the director now owns 158,834 shares in the company, valued at $2,473,045.38. The trade was a 1.93 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the transaction, the director now owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AlphaQuest LLC grew its holdings in shares of F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock worth $27,000 after purchasing an additional 1,759 shares during the last quarter. Headlands Technologies LLC purchased a new position in F.N.B. during the 4th quarter valued at about $39,000. Parallel Advisors LLC raised its position in F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after purchasing an additional 995 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in F.N.B. in the 1st quarter worth approximately $47,000. Finally, UMB Bank n.a. grew its position in shares of F.N.B. by 34.5% in the 1st quarter. UMB Bank n.a. now owns 4,345 shares of the bank’s stock worth $58,000 after buying an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Performance

The business has a fifty day moving average of $13.68 and a 200 day moving average of $14.76. The company has a market cap of $4.57 billion, a P/E ratio of 10.09, a P/E/G ratio of 3.60 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48.

F.N.B. Company Profile

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.