F.N.B. (NYSE:FNB) Hits New 12-Month High Following Dividend Announcement

F.N.B. Co. (NYSE:FNB)’s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $16.91 and last traded at $16.90, with a volume of 68098 shares traded. The stock had previously closed at $16.77.

The newly announced dividend which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.88%. F.N.B.’s dividend payout ratio is presently 44.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FNB shares. Piper Sandler reaffirmed 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 research note on Monday, October 21st. Finally, Stephens boosted their target price on 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.33.

F.N.B. Stock Performance

The stock has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $14.13. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 15.28 and a beta of 0.95. 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 posted its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. As a group, analysts anticipate that F.N.B. Co. will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On F.N.B.

Several large investors have recently bought and sold shares of FNB. SG Americas Securities LLC purchased a new stake in shares of F.N.B. in the 2nd quarter valued at about $920,000. CWM LLC boosted its holdings in shares of F.N.B. by 0.4% in the third quarter. CWM LLC now owns 379,995 shares of the bank’s stock valued at $5,362,000 after acquiring an additional 1,527 shares during the period. Sei Investments Co. boosted its holdings in shares of F.N.B. by 5.8% in the first quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after acquiring an additional 73,016 shares during the period. Cetera Advisors LLC grew its position in shares of F.N.B. by 253.4% during the first quarter. Cetera Advisors LLC now owns 92,986 shares of the bank’s stock worth $1,311,000 after acquiring an additional 66,676 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of F.N.B. by 48.2% in the 1st quarter. Cetera Investment Advisers now owns 128,089 shares of the bank’s stock valued at $1,806,000 after acquiring an additional 41,665 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

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.