F.N.B. (NYSE:FNB) Reaches New 52-Week High After Dividend Announcement

F.N.B. Co. (NYSE:FNB)’s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $16.91 and last traded at $16.90, with a volume of 68098 shares traded. The stock had previously closed at $16.77.

The newly announced dividend which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.88%. F.N.B.’s payout ratio is 44.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FNB shares. Stephens boosted their target price on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.33.

F.N.B. Stock Down 0.3 %

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 has a market capitalization of $5.99 billion, a price-to-earnings ratio of 15.28 and a beta of 0.95. The firm’s 50-day simple moving average is $14.45 and its two-hundred day simple moving average is $14.13.

F.N.B. (NYSE:FNB) last released its quarterly earnings results 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 firm had revenue of $413.02 million during 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%. Sell-side analysts predict that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On F.N.B.

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of F.N.B. in the second quarter valued at about $920,000. CWM LLC lifted its stake in F.N.B. by 0.4% in the 3rd quarter. CWM LLC now owns 379,995 shares of the bank’s stock valued at $5,362,000 after buying an additional 1,527 shares in the last quarter. Sei Investments Co. grew its holdings in F.N.B. by 5.8% during the 1st quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after buying an additional 73,016 shares during the last quarter. Cetera Advisors LLC increased its position in F.N.B. by 253.4% during the first quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock worth $1,311,000 after buying an additional 66,676 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of F.N.B. by 48.2% in the first quarter. Cetera Investment Advisers now owns 128,089 shares of the bank’s stock worth $1,806,000 after acquiring an additional 41,665 shares during the last quarter. 79.25% of the stock is owned by institutional investors and hedge funds.

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.