Zacks Research Comments on F.N.B. Co.’s Q3 2024 Earnings (NYSE:FNB)

F.N.B. Co. (NYSE:FNB) – Equities research analysts at Zacks Research decreased their Q3 2024 EPS estimates for shares of F.N.B. in a research note issued on Wednesday, August 7th. Zacks Research analyst R. Department now anticipates that the bank will earn $0.35 per share for the quarter, down from their previous forecast of $0.36. The consensus estimate for F.N.B.’s current full-year earnings is $1.39 per share. Zacks Research also issued estimates for F.N.B.’s Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $1.38 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.47 EPS and FY2026 earnings at $1.59 EPS.

F.N.B. (NYSE:FNB) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $403.81 million during the quarter, compared to analyst estimates of $408.14 million. F.N.B. had a return on equity of 9.04% and a net margin of 18.27%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS.

A number of other research firms have also weighed in on FNB. Keefe, Bruyette & Woods restated a “market perform” rating and set a $16.00 target price on shares of F.N.B. in a research note on Wednesday, June 26th. Piper Sandler boosted their price target on shares of F.N.B. from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Stephens restated an “overweight” rating and issued a $16.00 price objective on shares of F.N.B. in a report on Thursday, July 18th. Finally, StockNews.com downgraded shares of F.N.B. from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” and an average price target of $15.29.

F.N.B. Price Performance

Shares of NYSE FNB opened at $13.66 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 10.54 and a beta of 0.98. The stock’s 50-day moving average is $13.86 and its two-hundred day moving average is $13.66. F.N.B. has a 1-year low of $10.24 and a 1-year high of $15.65.

Hedge Funds Weigh In On F.N.B.

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of F.N.B. by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,292,019 shares of the bank’s stock valued at $293,193,000 after purchasing an additional 136,104 shares during the last quarter. Norges Bank purchased a new stake in F.N.B. in the fourth quarter valued at approximately $49,533,000. Rafferty Asset Management LLC boosted its holdings in shares of F.N.B. by 61.3% in the fourth quarter. Rafferty Asset Management LLC now owns 535,520 shares of the bank’s stock valued at $7,374,000 after acquiring an additional 203,429 shares during the period. Federated Hermes Inc. grew its position in shares of F.N.B. by 31.0% during the fourth quarter. Federated Hermes Inc. now owns 378,727 shares of the bank’s stock worth $5,215,000 after acquiring an additional 89,637 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of F.N.B. by 5.8% in the 1st quarter. Sei Investments Co. now owns 1,341,044 shares of the bank’s stock valued at $18,909,000 after acquiring an additional 73,016 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Thursday, September 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 5th. F.N.B.’s payout ratio is 38.71%.

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.