Piper Sandler Cuts F.N.B. (NYSE:FNB) Price Target to $18.00

F.N.B. (NYSE:FNB) had its target price reduced by Piper Sandler from $19.00 to $18.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

FNB has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price target on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. DA Davidson upped their target price on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James raised their price target on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.50.

F.N.B. Stock Up 0.1 %

FNB opened at $15.53 on Thursday. F.N.B. has a 12 month low of $12.49 and a 12 month high of $17.70. The company has a market cap of $5.58 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 4.80 and a beta of 1.01. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $15.66 and a 200 day moving average of $14.91.

F.N.B. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, December 2nd. F.N.B.’s payout ratio is 38.10%.

Insider Activity

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

Hedge Funds Weigh In On F.N.B.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted 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 worth $41,045,000 after buying an additional 1,964,884 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of F.N.B. during the third quarter worth approximately $14,190,000. Assenagon Asset Management S.A. lifted its holdings in shares of F.N.B. by 490.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank’s stock worth $13,741,000 after acquiring an additional 772,134 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of F.N.B. by 780.7% in the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock valued at $5,038,000 after purchasing an additional 316,515 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of F.N.B. by 1.9% during the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after purchasing an additional 278,825 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other 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.