Principal Financial Group Inc. Boosts Stake in F.N.B. Co. (NYSE:FNB)

Principal Financial Group Inc. raised its position in shares of F.N.B. Co. (NYSE:FNB) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,952,429 shares of the bank’s stock after buying an additional 127,516 shares during the quarter. Principal Financial Group Inc. owned about 1.38% of F.N.B. worth $69,879,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of F.N.B. by 181.6% in the second quarter. AQR Capital Management LLC now owns 3,047,133 shares of the bank’s stock valued at $41,045,000 after purchasing an additional 1,964,884 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of F.N.B. in the 3rd quarter worth $14,190,000. Dimensional Fund Advisors LP increased its holdings in shares of F.N.B. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,176,107 shares of the bank’s stock worth $303,361,000 after buying an additional 647,335 shares during the last quarter. Jane Street Group LLC raised its position in shares of F.N.B. by 780.7% during the 3rd quarter. Jane Street Group LLC now owns 357,057 shares of the bank’s stock valued at $5,038,000 after buying an additional 316,515 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of F.N.B. by 1.9% in the 3rd quarter. State Street Corp now owns 15,185,397 shares of the bank’s stock valued at $214,266,000 after acquiring an additional 278,825 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Performance

Shares of F.N.B. stock opened at $14.50 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $15.72 and its 200-day moving average price is $14.59. The firm has a market cap of $5.21 billion, a P/E ratio of 13.30 and a beta of 0.99. F.N.B. Co. has a 12 month low of $12.49 and a 12 month high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly 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 business had revenue of $413.02 million during the quarter, compared to analysts’ expectations of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. On average, equities research analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current fiscal year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, December 2nd. F.N.B.’s payout ratio is 44.04%.

Insider Buying and Selling

In other F.N.B. news, CEO Vincent J. Delie, Jr. sold 125,000 shares of F.N.B. stock in a transaction on Friday, December 6th. The shares were sold at an average price of $16.50, for a total value of $2,062,500.00. Following the transaction, the chief executive officer now directly owns 1,652,229 shares of the company’s stock, valued at approximately $27,261,778.50. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Raymond James increased their price target on F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Stephens lifted their price objective on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their target price on shares of F.N.B. from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

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.