F.N.B. (NYSE:FNB) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

F.N.B. (NYSE:FNB) announced its quarterly earnings data on Tuesday. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09, Zacks reports. The company had revenue of $457.78 million for the quarter, compared to analysts’ expectations of $457.87 million. F.N.B. had a return on equity of 8.22% and a net margin of 19.23%.During the same period last year, the firm posted $0.30 EPS.

F.N.B. Stock Performance

F.N.B. stock opened at $17.26 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market cap of $6.18 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.83 and a beta of 0.91. F.N.B. has a 1-year low of $10.88 and a 1-year high of $17.93. The firm has a 50-day moving average of $17.01 and a 200-day moving average of $16.28.

F.N.B. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. F.N.B.’s dividend payout ratio is 34.53%.

Insider Buying and Selling

In other F.N.B. news, insider Gary L. Guerrieri sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $17.67, for a total transaction of $265,050.00. Following the completion of the transaction, the insider owned 279,883 shares of the company’s stock, valued at $4,945,532.61. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James L. Dutey sold 40,000 shares of F.N.B. stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.75, for a total value of $670,000.00. Following the completion of the sale, the insider owned 49,936 shares in the company, valued at approximately $836,428. This represents a 44.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FNB. Goldman Sachs Group Inc. boosted its stake in shares of 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 valued at $20,353,000 after purchasing an additional 660,387 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in F.N.B. by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,049,241 shares of the bank’s stock valued at $14,112,000 after acquiring an additional 58,672 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of F.N.B. by 11.6% during the 1st quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock worth $3,692,000 after acquiring an additional 28,570 shares during the period. BNP Paribas Financial Markets raised its position in shares of F.N.B. by 454.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,357 shares of the bank’s stock worth $3,550,000 after acquiring an additional 180,610 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of F.N.B. by 23.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 153,199 shares of the bank’s stock valued at $2,468,000 after purchasing an additional 29,428 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of F.N.B. in a research note on Monday, December 29th. Truist Financial set a $19.00 target price on shares of F.N.B. in a report on Tuesday, January 13th. Piper Sandler began coverage on shares of F.N.B. in a research report on Wednesday, December 3rd. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, DA Davidson cut F.N.B. from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, F.N.B. currently has an average rating of “Moderate Buy” and an average target price of $19.10.

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.