F.N.B. (NYSE:FNB) Given New $16.00 Price Target at Wells Fargo & Company

F.N.B. (NYSE:FNB) had its price target lifted by Wells Fargo & Company from $14.00 to $16.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other brokerages have also weighed in on FNB. StockNews.com lowered F.N.B. from a hold rating to a sell rating in a report on Friday, February 16th. Raymond James upped their price objective on F.N.B. from $14.00 to $16.00 and gave the company an outperform rating in a report on Monday, January 22nd. Finally, Bank of America started coverage on F.N.B. in a report on Thursday, January 11th. They issued a buy rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $15.00.

F.N.B. Trading Down 4.9 %

Shares of FNB stock opened at $13.06 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 0.91. F.N.B. has a 1 year low of $10.09 and a 1 year high of $14.19. The stock has a fifty day moving average of $13.46 and a two-hundred day moving average of $12.65. The firm has a market capitalization of $4.69 billion, a PE ratio of 9.89 and a beta of 1.02.

F.N.B. (NYSE:FNB) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $337.11 million during the quarter, compared to analyst estimates of $403.84 million. F.N.B. had a return on equity of 9.98% and a net margin of 21.77%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, research analysts expect that F.N.B. will post 1.45 EPS for the current year.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Tuesday, March 5th. F.N.B.’s dividend payout ratio is 36.36%.

Insider Activity

In other F.N.B. news, Director William B. Campbell purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $13.41 per share, with a total value of $33,525.00. Following the completion of the transaction, the director now owns 145,388 shares of the company’s stock, valued at $1,949,653.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is currently owned by company insiders.

Institutional Trading of F.N.B.

Several large investors have recently made changes to their positions in FNB. BlackRock Inc. boosted its stake in F.N.B. by 13.1% during the 1st quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock valued at $497,953,000 after purchasing an additional 4,625,329 shares during the period. Norges Bank bought a new stake in shares of F.N.B. in the 4th quarter worth approximately $49,533,000. Vanguard Group Inc. lifted its position in shares of F.N.B. by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock worth $437,721,000 after acquiring an additional 3,125,650 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of F.N.B. by 535.0% in the 1st quarter. Balyasny Asset Management L.P. now owns 1,891,779 shares of the bank’s stock worth $21,945,000 after acquiring an additional 1,593,871 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of F.N.B. by 706.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,208,076 shares of the bank’s stock worth $16,635,000 after acquiring an additional 1,058,293 shares during the period. Institutional investors own 79.25% of the company’s stock.

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.