DA Davidson Increases F.N.B. (NYSE:FNB) Price Target to $20.00

F.N.B. (NYSE:FNB) had its price target boosted by DA Davidson from $19.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.

Several other analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on F.N.B. from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods upped their target price on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

F.N.B. Price Performance

FNB opened at $15.50 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $15.68 and its 200 day moving average price is $14.89. F.N.B. has a fifty-two week low of $12.49 and a fifty-two week high of $17.70. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.48 annualized dividend and a yield of 3.10%. F.N.B.’s payout ratio is 44.04%.

Insiders Place Their Bets

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On F.N.B.

A number of institutional investors have recently added to or reduced their stakes in FNB. Kathleen S. Wright Associates Inc. bought a new stake in shares of F.N.B. in the 3rd quarter worth $28,000. Brooklyn Investment Group acquired a new position in F.N.B. during the third quarter worth about $31,000. Richardson Financial Services Inc. grew its holdings in 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. lifted its holdings in F.N.B. by 82.3% in the 3rd 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 during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of F.N.B. by 100.9% during the 4th 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 in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

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.