F.N.B. Co. (NYSE:FNB) Declares Quarterly Dividend of $0.12

F.N.B. Co. (NYSE:FNB) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.12 per share by the bank on Saturday, March 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, March 3rd.

F.N.B. has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect F.N.B. to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 28.9%.

F.N.B. Price Performance

Shares of FNB traded down $0.15 during midday trading on Friday, hitting $15.68. 2,476,049 shares of the company traded hands, compared to its average volume of 2,837,588. The stock has a 50-day moving average of $15.60 and a 200-day moving average of $14.95. F.N.B. has a one year low of $12.49 and a one year high of $17.70. The firm has a market cap of $5.64 billion, a P/E ratio of 12.44, a PEG ratio of 4.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94.

Insider Activity

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FNB. Keefe, Bruyette & Woods upped their price target on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James increased their price objective on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler dropped their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Stephens increased their price objective on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company dropped their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, F.N.B. has an average rating of “Moderate Buy” and a consensus price target of $18.50.

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.