DA Davidson Has Bearish Forecast for F.N.B. FY2024 Earnings

F.N.B. Co. (NYSE:FNB) – Investment analysts at DA Davidson lowered their FY2024 EPS estimates for shares of F.N.B. in a research note issued on Tuesday, October 22nd. DA Davidson analyst M. Navas now expects that the bank will post earnings of $1.35 per share for the year, down from their prior forecast of $1.40. The consensus estimate for F.N.B.’s current full-year earnings is $1.38 per share. DA Davidson also issued estimates for F.N.B.’s Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.50 EPS.

Several other equities analysts also recently weighed in on the stock. StockNews.com raised shares of F.N.B. from a “sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.00 price objective on shares of F.N.B. in a research note on Wednesday, June 26th. Stephens upped their price target on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

F.N.B. Stock Up 1.9 %

FNB stock opened at $14.36 on Wednesday. The business’s 50-day moving average price is $14.20 and its 200-day moving average price is $13.91. The stock has a market cap of $5.17 billion, a P/E ratio of 11.58, a PEG ratio of 10.01 and a beta of 0.96. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. F.N.B. has a twelve month low of $10.24 and a twelve month high of $15.65.

Institutional Trading of F.N.B.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNB. AQR Capital Management LLC grew its position in F.N.B. by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after acquiring an additional 1,964,884 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of F.N.B. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after purchasing an additional 647,335 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in F.N.B. in the 3rd quarter worth about $3,292,000. Choreo LLC bought a new stake in F.N.B. during the 2nd quarter valued at about $2,802,000. Finally, Vanguard Group Inc. boosted its position in F.N.B. by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 39,346,808 shares of the bank’s stock valued at $541,806,000 after buying an additional 156,120 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Thursday, September 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Thursday, September 5th. F.N.B.’s dividend payout ratio (DPR) is 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.