DA Davidson Comments on F.N.B. Co.’s FY2024 Earnings (NYSE:FNB)

F.N.B. Co. (NYSE:FNB) – Research analysts at DA Davidson cut their FY2024 EPS estimates for shares of F.N.B. in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $1.45 for the year, down from their prior forecast of $1.65. The consensus estimate for F.N.B.’s current full-year earnings is $1.45 per share.

F.N.B. (NYSE:FNB) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. F.N.B. had a net margin of 19.73% and a return on equity of 9.51%. The business had revenue of $406.87 million during the quarter, compared to the consensus estimate of $406.96 million. During the same period in the previous year, the firm posted $0.40 earnings per share.

Other equities research analysts have also issued research reports about the company. Bank of America started coverage on F.N.B. in a research report on Thursday, January 11th. They issued a “buy” rating and a $15.00 target price on the stock. Stephens reduced their target price on shares of F.N.B. from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Wells Fargo & Company upped their price target on shares of F.N.B. from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Raymond James lifted their price objective on F.N.B. from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, StockNews.com downgraded F.N.B. from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, F.N.B. currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

F.N.B. Stock Performance

Shares of FNB opened at $13.64 on Wednesday. The stock has a 50-day moving average of $13.47 and a two-hundred day moving average of $12.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market cap of $4.90 billion, a P/E ratio of 11.00, a P/E/G ratio of 9.23 and a beta of 1.02. F.N.B. has a one year low of $10.09 and a one year high of $14.19.

Institutional Trading of F.N.B.

Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its holdings in shares of F.N.B. by 3.4% during the fourth quarter. Advisory Services Network LLC now owns 24,594 shares of the bank’s stock worth $339,000 after buying an additional 813 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in F.N.B. by 2.8% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 37,364 shares of the bank’s stock valued at $403,000 after acquiring an additional 1,006 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in F.N.B. by 1.0% in the 4th quarter. Teacher Retirement System of Texas now owns 102,095 shares of the bank’s stock worth $1,406,000 after purchasing an additional 1,036 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of F.N.B. by 3.8% during the 3rd quarter. Inspire Investing LLC now owns 28,415 shares of the bank’s stock worth $307,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its position in shares of F.N.B. by 0.5% in the first quarter. Alaska Permanent Fund Corp now owns 195,731 shares of the bank’s stock valued at $2,760,000 after purchasing an additional 1,050 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William B. Campbell purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average price of $13.48 per share, with a total value of $33,700.00. Following the acquisition, the director now owns 149,458 shares in the company, valued at $2,014,693.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 6,500 shares of company stock worth $87,505 over the last three months. 1.22% of the stock is currently owned by corporate insiders.

F.N.B. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, March 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Tuesday, March 5th. F.N.B.’s dividend payout ratio (DPR) is presently 38.71%.

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.