Raymond James Increases F.N.B. (NYSE:FNB) Price Target to $19.00

F.N.B. (NYSE:FNB) had its price target boosted by Raymond James from $17.00 to $19.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Raymond James’ price target points to a potential upside of 13.10% from the stock’s current price.

A number of other brokerages also recently commented on FNB. Stephens increased their price target on shares of F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Piper Sandler reissued an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.

F.N.B. Price Performance

Shares of NYSE FNB traded up $0.39 during mid-day trading on Thursday, reaching $16.80. 945,135 shares of the company were exchanged, compared to its average volume of 2,217,907. The stock has a market capitalization of $6.04 billion, a PE ratio of 15.49 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. F.N.B. has a 52 week low of $11.55 and a 52 week high of $16.97. The company’s 50 day moving average price is $14.69 and its 200 day moving average price is $14.23.

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 company had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. Sell-side analysts forecast that F.N.B. will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On F.N.B.

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