Wells Fargo & Company Lowers F.N.B. (NYSE:FNB) Price Target to $18.00

F.N.B. (NYSE:FNB) had its price target reduced by equities researchers at Wells Fargo & Company from $19.00 to $18.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 21.21% from the company’s current price.

A number of other equities research analysts have also commented on FNB. Raymond James raised their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

F.N.B. Price Performance

Shares of FNB traded up $0.18 on Monday, hitting $14.85. The company’s stock had a trading volume of 215,082 shares, compared to its average volume of 1,283,920. The company has a 50 day moving average price of $15.78 and a 200 day moving average price of $14.73. F.N.B. has a fifty-two week low of $12.49 and a fifty-two week high of $17.70. The company has a market capitalization of $5.34 billion, a PE ratio of 13.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.92.

F.N.B. (NYSE:FNB) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. The company had revenue of $413.02 million for the quarter, compared to analyst estimates of $409.80 million. On average, research analysts anticipate that F.N.B. will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at F.N.B.

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the sale, the chief executive officer now owns 1,652,229 shares of the company’s stock, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.03% of the stock is owned by insiders.

Institutional Trading of F.N.B.

Hedge funds have recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new stake in F.N.B. during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group acquired a new position in shares of F.N.B. during the third quarter worth $31,000. Richardson Financial Services Inc. grew its stake in shares of F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after purchasing an additional 1,473 shares during the last quarter. UMB Bank n.a. increased its holdings in F.N.B. by 82.3% in the third quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,665 shares during the period. Finally, Versant Capital Management Inc increased its holdings in F.N.B. by 100.9% in the fourth quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,014 shares during the period. 79.25% of the stock is owned by institutional investors and hedge funds.

About F.N.B.

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.