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

Principal Financial Group Inc. grew its stake in F.N.B. Co. (NYSE:FNB) by 2.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,952,429 shares of the bank’s stock after buying an additional 127,516 shares during the quarter. Principal Financial Group Inc.’s holdings in F.N.B. were worth $69,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FNB. Kathleen S. Wright Associates Inc. acquired a new position in shares of F.N.B. in the 3rd quarter valued at $28,000. Brooklyn Investment Group acquired a new position in shares of F.N.B. in the third quarter worth about $31,000. Richardson Financial Services Inc. raised its position in shares of F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock worth $41,000 after acquiring an additional 1,473 shares during the period. UMB Bank n.a. boosted its stake in shares of F.N.B. by 82.3% during the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock worth $52,000 after acquiring an additional 1,665 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of F.N.B. by 31.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.50, for a total transaction of $2,062,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,652,229 shares in the company, valued at approximately $27,261,778.50. This trade represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.03% of the stock is currently owned by company insiders.

F.N.B. Price Performance

F.N.B. stock opened at $14.50 on Friday. The company has a fifty day simple moving average of $15.72 and a 200-day simple moving average of $14.59. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 13.30 and a beta of 0.99. F.N.B. Co. has a 52-week low of $12.49 and a 52-week high of $17.70.

F.N.B. (NYSE:FNB) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. The business had revenue of $413.02 million for the quarter, compared to analysts’ expectations of $409.80 million. On average, equities analysts anticipate that F.N.B. Co. will post 1.34 EPS for the current fiscal year.

F.N.B. Dividend Announcement

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

Wall Street Analyst Weigh In

FNB has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Stephens increased their target price on F.N.B. from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of F.N.B. from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Raymond James lifted their target price on shares of F.N.B. from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded shares of F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.67.

F.N.B. Company Profile

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.