KBW Maintains Outperform Rating, $12.50 PT On F.N.B. Corp.

KBW is maintaining its OP rating and $12.50 PT on shares of F.N.B. Corporation FNB. “On Friday May 13th, F.N.B. completed a common equity raise whereby the bank sold 5.25mm shares of stock at $10.70, raising gross proceeds of $56.2mm,” KBW writes. “This offering was made in conjunction with the bank's addition to the S&P 600 Index. We have incorporated the impact of these proceeds into our model as we modestly lower our estimates.” F.N.B. Corporation closed Friday at $10.75.