F.N.B. (NYSE:FNB) Issues Quarterly Earnings Results

F.N.B. (NYSE:FNB) released its quarterly earnings data on Thursday. The bank reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42, Zacks reports. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%.

F.N.B. Price Performance

NYSE FNB traded up $0.35 during mid-day trading on Thursday, hitting $19.43. The stock had a trading volume of 7,361,119 shares, compared to its average volume of 6,432,901. The company has a 50 day simple moving average of $18.15 and a 200 day simple moving average of $17.64. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 0.97 and a beta of 0.84. F.N.B. has a 52-week low of $14.45 and a 52-week high of $19.59. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.29.

Insider Buying and Selling

In other news, insider Gary L. Guerrieri sold 19,000 shares of the firm’s stock in a transaction 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 trade represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of F.N.B. by 11.6% in the first quarter. Royal Bank of Canada now owns 274,466 shares of the bank’s stock valued at $3,692,000 after purchasing an additional 28,570 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $2,058,000 after purchasing an additional 29,248 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 worth $20,353,000 after purchasing an additional 660,387 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in F.N.B. by 5.9% in 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 buying an additional 58,672 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in F.N.B. by 3,723.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock valued at $36,000 after buying an additional 2,420 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on FNB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of F.N.B. in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods upped their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Wells Fargo & Company increased their target price on shares of F.N.B. from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Piper Sandler boosted their price objective on shares of F.N.B. from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Truist Financial upped their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, F.N.B. currently has an average rating of “Buy” and an average price target of $20.80.

About F.N.B.

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.