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 mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $16.91 and last traded at $16.90, with a volume of 68098 shares trading hands. 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. This represents a $0.48 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s payout ratio is currently 44.04%.

Wall Street Analysts Forecast Growth

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

F.N.B. Trading Down 0.3 %

The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.99 billion, a P/E ratio of 15.28 and a beta of 0.95. The stock has a 50 day moving average of $14.45 and a 200-day moving average of $14.13.

F.N.B. (NYSE:FNB) last posted its quarterly 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). 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 the consensus estimate of $409.80 million. On average, research analysts predict that F.N.B. Co. will post 1.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNB. Kathleen S. Wright Associates Inc. bought a new position in F.N.B. in the 3rd quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in F.N.B. in the 3rd quarter worth approximately $31,000. Richardson Financial Services Inc. boosted its position in shares of F.N.B. by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,473 shares during the last quarter. LRI Investments LLC bought a new position in shares of F.N.B. during the 1st quarter valued at approximately $45,000. Finally, GAMMA Investing LLC boosted its position in shares of F.N.B. by 113.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,764 shares during the last quarter. 79.25% of the stock is currently owned by institutional investors.

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.