Principal Financial Group Inc. Cuts Stock Holdings in F.N.B. Co. (NYSE:FNB)

Principal Financial Group Inc. cut its position in shares of F.N.B. Co. (NYSE:FNB) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,624,618 shares of the bank’s stock after selling 327,811 shares during the period. Principal Financial Group Inc. owned 1.29% of F.N.B. worth $68,352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of F.N.B. during the 3rd quarter worth about $31,000. Richardson Financial Services Inc. increased 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 valued at $41,000 after buying an additional 1,473 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of F.N.B. by 100.9% during the 4th quarter. Versant Capital Management Inc now owns 4,011 shares of the bank’s stock worth $59,000 after buying an additional 2,014 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of F.N.B. by 31.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,600 shares of the bank’s stock valued at $65,000 after buying an additional 1,100 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in F.N.B. in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

F.N.B. Trading Down 0.4 %

Shares of F.N.B. stock opened at $15.53 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $15.25 and its 200-day simple moving average is $15.00. The stock has a market cap of $5.58 billion, a P/E ratio of 12.32, a P/E/G ratio of 3.68 and a beta of 1.01. F.N.B. Co. has a 1-year low of $12.49 and a 1-year high of $17.70.

F.N.B. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Monday, March 3rd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 3rd. F.N.B.’s payout ratio is currently 38.10%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. DA Davidson upped their price target on shares of F.N.B. from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on F.N.B. from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on F.N.B. from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James boosted their price target on F.N.B. from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Insiders Place Their Bets

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm’s stock in a transaction that occurred on 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 owns 1,652,229 shares in the company, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William B. Campbell purchased 3,000 shares of F.N.B. stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $46,710.00. Following the transaction, the director now owns 158,834 shares in the company, valued at approximately $2,473,045.38. This trade represents a 1.93 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company’s stock.

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.