Principal Financial Group Inc. Has $14.44 Million Stock Holdings in F.N.B. Co. (NYSE:FNB)

Principal Financial Group Inc. boosted its stake in F.N.B. Co. (NYSE:FNBGet Rating) by 15.1% in the second quarter, HoldingsChannel reports. The firm owned 1,329,534 shares of the bank’s stock after buying an additional 174,305 shares during the period. Principal Financial Group Inc.’s holdings in F.N.B. were worth $14,439,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of F.N.B. by 13.1% during the first quarter. BlackRock Inc. now owns 39,996,231 shares of the bank’s stock valued at $497,953,000 after buying an additional 4,625,329 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of F.N.B. by 9.8% during the first quarter. Vanguard Group Inc. now owns 35,158,364 shares of the bank’s stock valued at $437,721,000 after buying an additional 3,125,650 shares during the last quarter. State Street Corp grew its holdings in shares of F.N.B. by 5.3% during the first quarter. State Street Corp now owns 18,756,218 shares of the bank’s stock valued at $233,515,000 after buying an additional 942,178 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of F.N.B. by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 17,612,040 shares of the bank’s stock valued at $219,274,000 after buying an additional 1,145,955 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of F.N.B. by 14.3% during the first quarter. American Century Companies Inc. now owns 10,655,913 shares of the bank’s stock valued at $132,666,000 after buying an additional 1,330,992 shares during the last quarter. 76.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William B. Campbell acquired 4,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were acquired at an average price of $11.95 per share, with a total value of $47,800.00. Following the completion of the transaction, the director now owns 124,733 shares in the company, valued at approximately $1,490,559.35. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director David J. Malone sold 29,600 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $13.55, for a total value of $401,080.00. Following the sale, the director now owns 89,504 shares of the company’s stock, valued at $1,212,779.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William B. Campbell purchased 4,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $47,800.00. Following the transaction, the director now owns 124,733 shares of the company’s stock, valued at $1,490,559.35. The disclosure for this purchase can be found here. Insiders own 0.93% of the company’s stock.

F.N.B. Stock Down 1.0 %

FNB opened at $13.88 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $13.19 and its 200 day moving average is $12.19. F.N.B. Co. has a fifty-two week low of $10.48 and a fifty-two week high of $14.71. The firm has a market capitalization of $4.87 billion, a P/E ratio of 12.28 and a beta of 1.11.

F.N.B. (NYSE:FNBGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $379.59 million for the quarter, compared to analyst estimates of $361.67 million. F.N.B. had a net margin of 27.57% and a return on equity of 8.40%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. Research analysts expect that F.N.B. Co. will post 1.35 earnings per share for the current fiscal year.

F.N.B. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 2nd. F.N.B.’s dividend payout ratio is 42.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FNB. Truist Financial lifted their price objective on shares of F.N.B. from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 20th. StockNews.com started coverage on shares of F.N.B. in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Raymond James raised their price target on shares of F.N.B. from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, October 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, F.N.B. currently has an average rating of “Moderate Buy” and an average price target of $15.00.

F.N.B. Company Profile

(Get Rating)

F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services.

Further Reading

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Institutional Ownership by Quarter for F.N.B. (NYSE:FNB)

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