Wells Fargo & Company Cuts F.N.B. (NYSE:FNB) Price Target to $18.00

F.N.B. (NYSE:FNB) had its price target trimmed by Wells Fargo & Company from $19.00 to $18.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stephens raised their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Raymond James upped their price objective on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.50.

F.N.B. Trading Up 0.6 %

FNB opened at $14.76 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92. The company’s 50 day simple moving average is $15.79 and its two-hundred day simple moving average is $14.75. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 13.54 and a beta of 1.01. F.N.B. has a 1-year low of $12.49 and a 1-year high of $17.70.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $413.02 million for the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. Analysts expect that F.N.B. will post 1.34 EPS for the current fiscal year.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Monday, December 2nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 3.25%. F.N.B.’s dividend payout ratio (DPR) is presently 44.04%.

Insider Buying and Selling at F.N.B.

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,652,229 shares in the company, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.03% of the stock is owned by corporate insiders.

Institutional Trading of F.N.B.

Several hedge funds have recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. acquired a new position in shares of F.N.B. in the third quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of F.N.B. in the third quarter worth $31,000. Richardson Financial Services Inc. increased its position in shares of F.N.B. by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after acquiring an additional 1,473 shares during the period. UMB Bank n.a. raised its stake in shares of F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in F.N.B. by 100.9% in the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,014 shares during the period. Institutional investors and hedge funds 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.