F.N.B. (NYSE:FNB) Shares Gap Up After Better-Than-Expected Earnings

Shares of F.N.B. Co. (NYSE:FNB) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.23, but opened at $12.91. F.N.B. shares last traded at $12.72, with a volume of 694,693 shares changing hands.

The bank reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $411.61 million for the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a return on equity of 8.30% and a net margin of 18.12%. During the same quarter in the previous year, the business earned $0.34 earnings per share.

F.N.B. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.81%. F.N.B.’s payout ratio is currently 38.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FNB. Piper Sandler decreased their target price on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $19.00 price objective on shares of F.N.B. in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Insider Buying and Selling at F.N.B.

In other F.N.B. news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the sale, the director now directly owns 65,344 shares of the company’s stock, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William B. Campbell bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $15.57 per share, with a total value of $46,710.00. Following the transaction, the director now directly owns 158,834 shares in the company, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.37% of the company’s stock.

Institutional Trading of F.N.B.

Hedge funds have recently modified their holdings of the business. AlphaQuest LLC increased its stake in shares of F.N.B. by 3,589.8% in the 4th quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock worth $27,000 after acquiring an additional 1,759 shares in the last quarter. Headlands Technologies LLC purchased a new stake in F.N.B. in the fourth quarter worth about $39,000. Parallel Advisors LLC increased its stake in shares of F.N.B. by 47.4% during the first quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after purchasing an additional 995 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of F.N.B. during the first quarter valued at approximately $47,000. Finally, UMB Bank n.a. boosted its position in shares of F.N.B. by 34.5% in the 1st quarter. UMB Bank n.a. now owns 4,345 shares of the bank’s stock worth $58,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 79.25% of the company’s stock.

F.N.B. Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.53 billion, a PE ratio of 10.00, a P/E/G ratio of 3.60 and a beta of 0.86. The firm has a 50 day moving average of $13.62 and a two-hundred day moving average of $14.75.

F.N.B. Company Profile

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.