Keefe, Bruyette & Woods Downgrades F.N.B. Corporation (FNB) to Market Perform; Consistency Remains a Constant, But Valuation is Fair

Keefe, Bruyette & Woods downgraded F.N.B. Corporation (NYSE: FNB) from Outperform to Market Perform with a price target of $12.50.

KBW analyst says, "FNB posted another favorable quarter as the bank earned $0.19/sh, matching Street expectations, and missing our estimate by a penny. The quarter was marked by continued loan growth, improving asset quality and controlled expenses. We remain positive on the FNB story, however given the recent move in the shares, we feel valuation is fair at these levels and thus lower our rating to MP."

For an analyst ratings summary and ratings history on F.N.B. Corporation click here. For more ratings news on F.N.B. Corporation click here.

Shares of F.N.B. Corporation closed at $12.11 yesterday.

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