F.N.B. (NYSE:FNB) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

F.N.B. (NYSE:FNB) had its price target cut by Wells Fargo & Company from $19.00 to $18.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the bank’s stock.

FNB has been the topic of several other reports. Raymond James upped their price objective on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Stephens lifted their price objective on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price target on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.50.

F.N.B. Price Performance

Shares of FNB opened at $14.76 on Monday. The firm has a market capitalization of $5.31 billion, a PE ratio of 13.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $15.79 and its 200-day moving average price is $14.75. F.N.B. has a 1-year low of $12.49 and a 1-year high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The firm had revenue of $413.02 million during the quarter, compared to analyst estimates of $409.80 million. On average, equities research analysts predict that F.N.B. will post 1.34 EPS for the current year.

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Monday, December 2nd were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 3.25%. F.N.B.’s dividend payout ratio is presently 44.04%.

Insider Buying and Selling

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On F.N.B.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in shares of F.N.B. by 11.6% during the second quarter. Commonwealth Equity Services LLC now owns 61,751 shares of the bank’s stock worth $845,000 after purchasing an additional 6,412 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in F.N.B. during the 2nd quarter worth approximately $140,000. Victory Capital Management Inc. raised its holdings in shares of F.N.B. by 23.4% during the second quarter. Victory Capital Management Inc. now owns 125,280 shares of the bank’s stock valued at $1,714,000 after acquiring an additional 23,764 shares during the last quarter. Arizona State Retirement System lifted its position in shares of F.N.B. by 1.9% in the second quarter. Arizona State Retirement System now owns 100,489 shares of the bank’s stock valued at $1,375,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in shares of F.N.B. by 267.5% in the second quarter. Savant Capital LLC now owns 50,507 shares of the bank’s stock worth $691,000 after acquiring an additional 36,762 shares during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

About F.N.B.

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.