Key Points
- Insider sale: F.N.B. insider Gary Guerrieri sold 19,000 shares on June 12 at an average price of $18.53, totaling about $352,070. After the sale, he still owned 298,097 shares, a 5.99% reduction in his holdings.
- Dividend raised: The bank increased its quarterly dividend to $0.13 per share from $0.12, equal to an annualized yield of about 2.8%. The payout is scheduled for June 15, with the dividend carrying a 32.10% payout ratio.
- Analyst outlook remains positive: Wall Street analysts have a consensus Buy rating on F.N.B., with an average price target of $20.20. Shares were trading around $18.62, near their 52-week high of $19.14.
F.N.B. Corporation (NYSE:FNB - Get Free Report) insider Gary Guerrieri sold 19,000 shares of F.N.B. 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 transaction, the insider directly owned 298,097 shares of the company's stock, valued at $5,523,737.41. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
F.N.B. Trading Up 1.8%
NYSE FNB opened at $18.62 on Friday. F.N.B. Corporation has a one year low of $13.54 and a one year high of $19.14. The company has a 50-day simple moving average of $17.60 and a 200-day simple moving average of $17.37. 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 firm has a market capitalization of $6.63 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.84.
F.N.B. (NYSE:FNB - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $450.00 million during the quarter, compared to analyst estimates of $454.06 million. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. During the same period in the previous year, the business posted $0.32 EPS. On average, equities analysts forecast that F.N.B. Corporation will post 1.73 earnings per share for the current year.
F.N.B. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from F.N.B.'s previous quarterly dividend of $0.12. F.N.B.'s dividend payout ratio (DPR) is presently 32.10%.
Institutional Trading of F.N.B.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Horizon Investments LLC bought a new stake in shares of F.N.B. during the 4th quarter worth about $2,182,000. Syon Capital LLC bought a new stake in shares of F.N.B. during the 3rd quarter worth about $501,000. Rothschild Investment LLC raised its position in shares of F.N.B. by 65,030.0% during the 3rd quarter. Rothschild Investment LLC now owns 6,513 shares of the bank's stock worth $105,000 after buying an additional 6,503 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of F.N.B. by 45.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 10,868 shares of the bank's stock worth $176,000 after buying an additional 3,400 shares in the last quarter. Finally, Quent Capital LLC raised 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 buying an additional 734 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on FNB shares. Keefe, Bruyette & Woods boosted their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Weiss Ratings reissued a "buy (b)" rating on shares of F.N.B. in a research note on Tuesday. Finally, Truist Financial boosted their target price on shares of F.N.B. from $19.50 to $20.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, F.N.B. currently has an average rating of "Buy" and a consensus price target of $20.20.
Get Our Latest Research Report on F.N.B.
About F.N.B.
(
Get Free Report)
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.
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