F.N.B. (NYSE:FNB) Given New $20.50 Price Target at Truist Financial

F.N.B. (NYSE:FNB) had its price target cut by analysts at Truist Financial from $21.00 to $20.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s target price points to a potential upside of 10.07% from the company’s previous close.

A number of other research analysts also recently weighed in on FNB. Wall Street Zen raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America restated a “neutral” rating and set a $19.00 price objective (down from $20.00) on shares of F.N.B. in a research note on Monday. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Monday. Wells Fargo & Company lifted their target price on F.N.B. from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their target price on F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, F.N.B. has a consensus rating of “Moderate Buy” and an average price target of $20.42.

F.N.B. Stock Down 2.8%

F.N.B. stock traded down $0.54 during midday trading on Monday, reaching $18.62. The stock had a trading volume of 1,068,861 shares, compared to its average volume of 6,501,594. The firm’s fifty day simple moving average is $18.20 and its 200-day simple moving average is $17.66. F.N.B. has a 1-year low of $14.45 and a 1-year high of $19.59. The stock has a market capitalization of $6.63 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.92.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, July 16th. The bank reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.The firm had revenue of $465.77 million for the quarter, compared to analysts’ expectations of $467.13 million. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, analysts expect that F.N.B. will post 1.73 EPS for the current fiscal year.

Insider Activity at F.N.B.

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.53, for a total value of $352,070.00. Following the transaction, the insider directly owned 298,097 shares of the company’s stock, valued at $5,523,737.41. This represents a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Trading of F.N.B.

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in F.N.B. by 77.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,513,248 shares of the bank’s stock valued at $20,353,000 after buying an additional 660,387 shares in the last quarter. Rhino Investment Partners Inc lifted its holdings in shares of F.N.B. by 47.8% during the first quarter. Rhino Investment Partners Inc now owns 1,207,418 shares of the bank’s stock worth $20,188,000 after buying an additional 390,526 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of F.N.B. by 5.9% in the first 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 during the period. Congress Asset Management Co. boosted its position in shares of F.N.B. by 2.6% in the fourth quarter. Congress Asset Management Co. now owns 466,393 shares of the bank’s stock valued at $7,975,000 after acquiring an additional 11,841 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of F.N.B. by 585.2% in the first quarter. SG Americas Securities LLC now owns 358,244 shares of the bank’s stock valued at $5,990,000 after acquiring an additional 305,961 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.

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.