F.N.B. (NYSE:FNB) Shares Gap Up on Earnings Beat

F.N.B. Co. (NYSE:FNB - Get Free Report) gapped up prior to trading on Thursday following a better than expected earnings announcement. 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.

The bank reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $411.61 million during the quarter, compared to analyst estimates 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 firm posted $0.34 EPS.

F.N.B. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were given a $0.12 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.48 annualized dividend and a yield of 3.79%. F.N.B.'s dividend payout ratio is presently 38.10%.

Analyst Upgrades and Downgrades

Several research firms have commented on FNB. Wells Fargo & Company lowered their target price on shares of F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. DA Davidson restated a "buy" rating and issued a $19.00 target price on shares of F.N.B. in a research report on Thursday, April 17th. Piper Sandler lowered their target price on F.N.B. from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.75.

Insider Activity

In other news, Director David L. Motley sold 15,000 shares of F.N.B. stock in a transaction 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 transaction, the director now owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William B. Campbell acquired 3,000 shares of F.N.B. stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $15.57 per share, with a total value of $46,710.00. Following the completion of the purchase, the director now 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. 1.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On F.N.B.

Several institutional investors and hedge funds have recently bought and sold shares of FNB. Blue Trust Inc. boosted its holdings in shares of F.N.B. by 16.7% during the first quarter. Blue Trust Inc. now owns 12,170 shares of the bank's stock worth $164,000 after purchasing an additional 1,740 shares during the period. State of Alaska Department of Revenue lifted its position in F.N.B. by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 42,111 shares of the bank's stock worth $566,000 after buying an additional 1,115 shares in the last quarter. Cardinal Capital Management grew its holdings in shares of F.N.B. by 4.8% during the 1st quarter. Cardinal Capital Management now owns 138,968 shares of the bank's stock valued at $1,869,000 after acquiring an additional 6,398 shares in the last quarter. AA Financial Advisors LLC acquired a new position in shares of F.N.B. in the first quarter worth $269,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of F.N.B. by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 55,892 shares of the bank's stock worth $752,000 after acquiring an additional 1,249 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company's stock.

F.N.B. Trading Up 1.7 %

The business has a 50-day moving average of $13.50 and a 200-day moving average of $14.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 3.60 and a beta of 0.86.

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.