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

F.N.B. Co. (NYSE:FNB) shares 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 traded.

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

F.N.B. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, March 3rd. F.N.B.’s payout ratio is currently 38.10%.

Wall Street Analysts Forecast Growth

FNB has been the topic of a number of analyst reports. Piper Sandler lowered 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 report on Thursday, January 23rd. Wells Fargo & Company reduced their price target on F.N.B. from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, DA Davidson reissued a “buy” rating and set a $19.00 price objective on shares of F.N.B. in a report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity at F.N.B.

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

Institutional Trading of F.N.B.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC increased its stake in F.N.B. by 3,589.8% in the fourth quarter. AlphaQuest LLC now owns 1,808 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,759 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of F.N.B. in the 4th quarter worth about $39,000. Parallel Advisors LLC increased its position in shares of F.N.B. by 47.4% during the 1st quarter. Parallel Advisors LLC now owns 3,096 shares of the bank’s stock valued at $42,000 after purchasing an additional 995 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of F.N.B. during the 1st quarter valued at about $47,000. Finally, Versant Capital Management Inc lifted its position in F.N.B. by 100.9% in the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after buying an additional 2,014 shares during the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Up 3.0 %

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

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.