Wells Fargo & Co Raises F.N.B. (NYSE:FNB) Price Target to $14.00

F.N.B. (NYSE:FNB) had its price target boosted by Wells Fargo & Co from $13.00 to $14.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the company. ValuEngine cut F.N.B. from a hold rating to a sell rating in a report on Wednesday, October 16th. Raymond James lifted their price objective on F.N.B. from $13.00 to $14.00 and gave the company an outperform rating in a report on Monday, September 30th. Finally, Zacks Investment Research upgraded F.N.B. from a sell rating to a hold rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. F.N.B. presently has an average rating of Hold and an average target price of $13.50.

F.N.B. stock opened at $12.18 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.78, a PEG ratio of 1.16 and a beta of 1.29. F.N.B. has a 1 year low of $9.35 and a 1 year high of $12.49. The business has a 50-day moving average of $11.32 and a 200-day moving average of $11.43. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.28.

F.N.B. (NYSE:FNB) last posted its earnings results on Thursday, October 17th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. F.N.B. had a return on equity of 8.59% and a net margin of 25.55%. The company had revenue of $309.80 million during the quarter, compared to analyst estimates of $306.42 million. During the same period in the previous year, the company earned $0.30 EPS. Research analysts anticipate that F.N.B. will post 1.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is currently 42.48%.

In related news, Director James D. Chiafullo acquired 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $10.85 per share, for a total transaction of $32,550.00. Following the purchase, the director now directly owns 66,847 shares in the company, valued at approximately $725,289.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David L. Motley acquired 2,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $11.12 per share, for a total transaction of $27,800.00. Following the purchase, the director now owns 36,320 shares in the company, valued at $403,878.40. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 6,000 shares of company stock worth $66,460. Company insiders own 0.59% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its stake in shares of F.N.B. by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 59,990 shares of the bank’s stock worth $706,000 after purchasing an additional 870 shares in the last quarter. Botty Investors LLC increased its holdings in shares of F.N.B. by 4.0% during the 2nd quarter. Botty Investors LLC now owns 24,190 shares of the bank’s stock worth $285,000 after acquiring an additional 925 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of F.N.B. by 1.9% during the 2nd quarter. HBK Sorce Advisory LLC now owns 50,585 shares of the bank’s stock worth $595,000 after acquiring an additional 961 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of F.N.B. by 59.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,747 shares of the bank’s stock worth $32,000 after acquiring an additional 1,027 shares during the last quarter. Finally, Parsec Financial Management Inc. increased its holdings in shares of F.N.B. by 8.1% during the 2nd quarter. Parsec Financial Management Inc. now owns 14,244 shares of the bank’s stock worth $168,000 after acquiring an additional 1,072 shares during the last quarter. Institutional investors own 74.94% of the company’s stock.

About F.N.B.

F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.

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