F.N.B. (NYSE:FNB) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of F.N.B. (NYSE:FNB) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $14.50 price objective on the bank’s stock.

According to Zacks, “We have initiated coverage on F.N.B. Corp. Its shares have outperformed the industry over the past three months. It has an impressive earnings surprise history, having outpaced the Zacks Consensus Estimate in each of the trailing four quarters. Supported by solid loans and deposit balances, efforts to improve fee income and opportunistic acquisitions, the company remains well-positioned for revenue growth. The manageable debt level and solid liquidity position bode well for the future. Also, the company's capital deployment activities seem impressive, through which it will keep enhancing shareholder value. However, the low-interest-rate environment remains a major concern for the company as it is expected to continue putting pressure on margins in the near term. Moreover, elevated expenses might hamper the bottom-line growth to some extent.”

Several other analysts have also issued reports on the company. DA Davidson restated a buy rating on shares of F.N.B. in a research note on Wednesday, October 20th. Wells Fargo & Company boosted their target price on F.N.B. from $13.50 to $14.50 and gave the company an overweight rating in a research note on Tuesday, January 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $13.49.

Shares of F.N.B. stock opened at $13.99 on Wednesday. The business’s fifty day simple moving average is $12.40 and its 200 day simple moving average is $11.92. The firm has a market capitalization of $4.46 billion, a P/E ratio of 12.17 and a beta of 1.27. F.N.B. has a 12 month low of $9.79 and a 12 month high of $14.00. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Sunday, October 17th. The bank reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The business had revenue of $321.26 million for the quarter, compared to analyst estimates of $306.91 million. F.N.B. had a return on equity of 8.20% and a net margin of 28.01%. F.N.B.’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Analysts predict that F.N.B. will post 1.22 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of F.N.B. by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 106,486 shares of the bank’s stock valued at $1,237,000 after purchasing an additional 804 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of F.N.B. by 23.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,249 shares of the bank’s stock valued at $49,000 after purchasing an additional 816 shares in the last quarter. Corient Capital Partners LLC grew its position in shares of F.N.B. by 6.8% in the second quarter. Corient Capital Partners LLC now owns 14,485 shares of the bank’s stock valued at $179,000 after purchasing an additional 919 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in shares of F.N.B. by 3.1% in the third quarter. Capital Investment Advisory Services LLC now owns 33,403 shares of the bank’s stock valued at $388,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its position in shares of F.N.B. by 1.4% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 73,678 shares of the bank’s stock valued at $856,000 after purchasing an additional 1,007 shares in the last quarter. Institutional investors own 77.29% of the company’s stock.

F.N.B. Company Profile

F.N.B. Corp. is a financial holding company. It engages in the provision of financial services to consumers, corporations, governments, and small to medium-sized businesses. The firm operates through the following segments: Community Banking, Wealth Management, Insurance, and Other. The Community Banking segment includes commercial and consumer banking services.

See Also: Buy Rating

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Analyst Recommendations for F.N.B. (NYSE:FNB)

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