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

F.N.B. Co. (NYSE:FNB) hit a new 52-week high during 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 dividend on an annualized basis and a dividend yield of 2.88%. F.N.B.’s dividend payout ratio is currently 44.04%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a report on Friday, October 18th. Stephens increased their price target on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, F.N.B. presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

F.N.B. Stock Performance

The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $14.13. The firm has a market cap of $5.99 billion, a PE ratio of 15.28 and a beta of 0.95.

F.N.B. (NYSE:FNB) last released its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. As a group, equities research analysts forecast that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On F.N.B.

A number of hedge funds and other institutional investors have recently made changes to their positions in FNB. AQR Capital Management LLC grew its position in shares of F.N.B. by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock worth $41,045,000 after buying an additional 1,964,884 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in F.N.B. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock valued at $303,361,000 after purchasing an additional 647,335 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in F.N.B. during the third quarter valued at about $3,292,000. Charles Schwab Investment Management Inc. boosted its position in F.N.B. by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,888,563 shares of the bank’s stock valued at $54,868,000 after purchasing an additional 218,511 shares in the last quarter. Finally, Choreo LLC bought a new stake in F.N.B. during the second quarter valued at about $2,802,000. Institutional investors 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.