F.N.B. (NYSE:FNB) Hits New 12-Month High – Should You Buy?

F.N.B. Corporation (NYSE:FNB) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $19.34 and last traded at $19.2840, with a volume of 414269 shares traded. The stock had previously closed at $19.08.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FNB shares. Weiss Ratings restated a “buy (b)” rating on shares of F.N.B. in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on shares of F.N.B. from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Truist Financial boosted their target price on shares of F.N.B. from $19.50 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Piper Sandler upped their target price on shares of F.N.B. from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.40.

F.N.B. Price Performance

The firm has a market capitalization of $6.94 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.84. The business has a 50-day moving average of $17.89 and a 200 day moving average of $17.54. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. F.N.B. had a net margin of 21.64% and a return on equity of 8.94%. The firm had revenue of $450.00 million for the quarter, compared to the consensus estimate of $454.06 million. During the same period in the previous year, the firm earned $0.32 EPS. As a group, research analysts anticipate that F.N.B. Corporation will post 1.73 EPS for the current fiscal year.

F.N.B. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.7%. This is a boost from F.N.B.’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, June 1st. F.N.B.’s dividend payout ratio is presently 32.10%.

Insider Transactions 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 completion of the sale, the insider owned 298,097 shares in the company, valued at approximately $5,523,737.41. This trade represents a 5.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On F.N.B.

Several institutional investors have recently modified their holdings of FNB. CoreCap Advisors LLC bought a new stake in F.N.B. during the fourth quarter worth $34,000. Root Financial Partners LLC grew its stake in F.N.B. by 66.8% in the 1st quarter. Root Financial Partners LLC now owns 2,047 shares of the bank’s stock valued at $34,000 after purchasing an additional 820 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of F.N.B. by 3,723.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,420 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of F.N.B. during the 3rd quarter valued at $55,000. Finally, Parallel Advisors LLC raised its stake in shares of F.N.B. by 18.9% during 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 period. 79.25% of the stock is 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.