F.N.B. (NYSE:FNB) Shares Up 3.4% Following Strong Earnings

Shares of F.N.B. Co. (NYSE:FNB – Get Rating) shot up 3.4% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $13.60 and last traded at $13.56. 1,329,856 shares traded hands during trading, a decline of 33% from the average session volume of 1,971,084 shares. The stock had previously closed at $13.11.

The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. F.N.B. had a return on equity of 8.40% and a net margin of 27.57%. The business had revenue of $488.50 million for the quarter, compared to the consensus estimate of $396.26 million. During the same quarter in the prior year, the business posted $0.30 EPS.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, March 3rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.54%. F.N.B.’s payout ratio is currently 42.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FNB. Keefe, Bruyette & Woods downgraded F.N.B. from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $16.00 to $15.50 in a research note on Monday, December 12th. Wells Fargo & Company raised their price target on F.N.B. from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. StockNews.com began coverage on F.N.B. in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James raised their price target on F.N.B. from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, October 20th. Finally, Truist Financial raised their price target on F.N.B. from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.30.

Institutional Trading of F.N.B.

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in F.N.B. by 196.0% during the 3rd quarter. IFP Advisors Inc now owns 2,451 shares of the bank’s stock worth $30,000 after acquiring an additional 1,623 shares during the period. First Command Bank acquired a new stake in shares of F.N.B. in the 2nd quarter valued at approximately $27,000. TCI Wealth Advisors Inc. lifted its holdings in shares of F.N.B. by 72.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,645 shares of the bank’s stock valued at $31,000 after buying an additional 1,114 shares during the period. Old North State Trust LLC acquired a new stake in shares of F.N.B. in the 3rd quarter valued at approximately $39,000. Finally, Bessemer Group Inc. acquired a new stake in shares of F.N.B. in the 3rd quarter valued at approximately $52,000. 76.07% of the stock is owned by institutional investors and hedge funds.

F.N.B. Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $13.25 and a 200 day moving average price of $12.74. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 12.01 and a beta of 1.08.

About F.N.B.

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F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.