Wells Fargo & Company Issues Pessimistic Forecast for F.N.B. (NYSE:FNB) Stock Price

F.N.B. (NYSE:FNB - Free Report) had its target price cut by Wells Fargo & Company from $18.00 to $16.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the bank's stock.

A number of other analysts also recently issued reports on FNB. Piper Sandler decreased their price objective on shares of F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. DA Davidson raised their price target on shares of F.N.B. from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, F.N.B. currently has a consensus rating of "Moderate Buy" and an average target price of $18.17.

F.N.B. Stock Performance

FNB stock traded up $0.28 during midday trading on Wednesday, hitting $12.07. The company's stock had a trading volume of 3,542,948 shares, compared to its average volume of 2,422,242. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 3.60 and a beta of 0.86. 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's 50-day moving average price is $13.90 and its 200 day moving average price is $14.81. F.N.B. has a 1 year low of $10.88 and a 1 year high of $17.70.

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F.N.B. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Monday, March 3rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.98%. The ex-dividend date was Monday, March 3rd. F.N.B.'s dividend payout ratio (DPR) is presently 38.10%.

Insider Activity at F.N.B.

In other F.N.B. news, Director William B. Campbell acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $15.57 per share, for a total transaction of $46,710.00. Following the completion of the transaction, the director now owns 158,834 shares of the company's stock, valued at approximately $2,473,045.38. This represents a 1.93 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Motley sold 15,000 shares of the business'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 transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On F.N.B.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC boosted its holdings 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 purchasing an additional 1,759 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of F.N.B. in the fourth quarter valued at about $39,000. Parallel Advisors LLC raised 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 acquiring an additional 995 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of F.N.B. during the first quarter worth about $47,000. Finally, UMB Bank n.a. grew its stake in shares of F.N.B. by 34.5% in the first 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 during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

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.