On December 2, 2023, James Dutey, an insider at F.N.B. Corporation (NYSE: FNB), sold 40,000 shares of the company’s stock for a total of $670,000. The shares were sold at an average price of $16.75, representing a significant 44.48% reduction in Dutey’s ownership. After the transaction, he retained 49,936 shares valued at approximately $836,428. This sale was officially disclosed in a filing with the Securities and Exchange Commission (SEC).
Investors reacted positively to the news, with F.N.B. stock rising 1.5% on December 3, reaching $16.87 during trading. The trading volume was notable, with 2,841,457 shares exchanged, though this was below the average volume of 5,463,762. The company’s current performance metrics include a 50-day moving average price of $15.91 and a 200-day moving average price of $15.49.
F.N.B. Corporation boasts a market capitalization of $6.04 billion and has demonstrated stable financial ratios, including a debt-to-equity ratio of 0.32 and both a current and quick ratio of 0.92. Over the past year, the company’s stock has fluctuated between a 52-week low of $10.88 and a high of $16.98.
Recent Earnings and Analyst Ratings
The financial results for F.N.B. were last reported on June 20, 2023, when the bank announced earnings per share (EPS) of $0.40 for the quarter. The company achieved a return on equity of 8.22% and a net margin of 19.23%, with total revenue reaching $419.30 million. Analysts forecast an EPS of $1.45 for the current year.
Several financial analysts have recently updated their ratings and price targets for F.N.B. stock. Truist Financial raised its price target from $18.00 to $18.50 and maintained a “buy” rating on October 20, 2023. Piper Sandler initiated coverage with an “overweight” rating and a target price of $19.00. Conversely, DA Davidson downgraded its rating from “strong-buy” to “hold.” Overall, five analysts have rated the stock as a Buy, while one has assigned a Hold rating, leading to an average rating of “Moderate Buy” and a consensus target of $19.00.
Institutional Investors’ Activity
Institutional investment in F.N.B. has seen considerable activity recently. Danske Bank A/S acquired a new stake valued at approximately $85,000 during the third quarter. Other notable transactions include Triumph Capital Management purchasing shares worth around $55,000 and Fiduciary Trust Co acquiring shares valued at $457,000. Additionally, Brooklyn Investment Group increased its holdings by 37.4%, now owning 41,200 shares worth $664,000 after purchasing an additional 11,222 shares. Currently, institutional investors own approximately 79.25% of F.N.B.’s stock.
Founded as a bank and financial holding company, F.N.B. Corporation offers a diverse range of financial products and services to consumers, corporations, governments, and small- to medium-sized enterprises in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.
