Bank of America Reaffirms Neutral Rating for F.N.B. (NYSE:FNB)

F.N.B. (NYSE:FNB)‘s stock had its “neutral” rating reiterated by investment analysts at Bank of America in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $19.00 price target on the bank’s stock, down from their prior price target of $20.00. Bank of America‘s price objective suggests a potential downside of 0.50% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price target on F.N.B. from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Piper Sandler lifted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of F.N.B. in a report on Tuesday, June 9th. Wells Fargo & Company increased their target price on shares of 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, Truist Financial raised their target price on shares of F.N.B. from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

F.N.B. Stock Performance

Shares of FNB stock opened at $19.09 on Monday. F.N.B. has a 12-month low of $14.45 and a 12-month high of $19.59. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The business has a 50 day simple moving average of $18.26 and a 200 day simple moving average of $17.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.91.

F.N.B. (NYSE:FNB) last posted its earnings results on Thursday, July 16th. The bank reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $465.77 million for the quarter, compared to analysts’ expectations of $467.13 million. F.N.B. had a return on equity of 9.10% and a net margin of 22.29%.During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that F.N.B. will post 1.7 EPS for the current year.

Insiders Place Their Bets

In other F.N.B. news, insider Gary L. Guerrieri sold 19,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.53, for a total transaction of $352,070.00. Following the completion of the transaction, the insider directly owned 298,097 shares of the company’s stock, valued at approximately $5,523,737.41. This trade represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Trading of F.N.B.

A number of hedge funds and other institutional investors have recently modified their holdings of FNB. GAMMA Investing LLC raised its stake in shares of F.N.B. by 4.3% in the 4th quarter. GAMMA Investing LLC now owns 15,745 shares of the bank’s stock valued at $269,000 after acquiring an additional 649 shares in the last quarter. Parallel Advisors LLC lifted its holdings in F.N.B. by 18.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,522 shares of the bank’s stock worth $73,000 after purchasing an additional 720 shares during the last quarter. Quent Capital LLC boosted its position in F.N.B. by 6.6% during the fourth quarter. Quent Capital LLC now owns 11,823 shares of the bank’s stock worth $202,000 after purchasing an additional 734 shares during the period. Root Financial Partners LLC boosted its position in F.N.B. by 66.8% during the first quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock worth $34,000 after purchasing an additional 820 shares during the period. Finally, Versant Capital Management Inc grew its holdings in F.N.B. by 9.7% during the second quarter. Versant Capital Management Inc now owns 11,861 shares of the bank’s stock valued at $226,000 after purchasing an additional 1,044 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

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.