FNB Corp. (NYSE:FNB) will release earnings results for its third quarter after the closing bell on Thursday, Oct. 17,

Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings at 35 cents per share. That’s down from 40 cents per share in the year-ago period. FNB projects to report revenue of $410.78 million for the recent quarter, compared to $403.35 million a year earlier, according to data from Benzinga Pro.

With the recent buzz around FNB, some investors may be eyeing potential gains from the company's dividends. The firm currently offers an annual dividend yield of 3.33%, which is a quarterly dividend amount of 12 cents per share (48 cents a year).

To figure out how to earn $500 monthly from FNB, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by FNB’s dividend of 48 cents: $6,000 / $0.48 = 12,500 shares

So, an investor would need to own approximately $184,750 worth of FNB, or 12,500 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.48 = 2,500 shares, or $36,950 to generate a monthly dividend income of $100.

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

View more earnings on FNB

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

Price Action: Shares of FNB gained by 2.5% to close at $14.78 on Wednesday.

On Aug. 7, FNB said its Chief Audit Executive Christine Tvaroch is retiring after nearly 30 years of service to the company.

Read More:

• Wall Street’s Most Accurate Analysts Give Their Take On 3 Consumer Stocks Delivering High-Dividend Yields

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