Principal Financial Group Inc. Increases Stake in F.N.B. Co.

Principal Financial Group Inc. has increased its stake in F.N.B. Co. (NYSE:FNB) by 2.6% during the third quarter, according to reports from Holdings Channel. As of the end of the recent quarter, the financial firm owned a total of 4,952,429 shares of F.N.B. stock, which translates to an additional purchase of 127,516 shares. The value of Principal Financial Group Inc.'s holdings in F.N.B. was approximately $69,879,000.

In addition to Principal Financial Group, other notable investors have made changes to their holdings in F.N.B. Kathleen S. Wright Associates Inc. acquired a new position in F.N.B. shares, investing around $28,000 during the third quarter. Meanwhile, Richardson Financial Services Inc. doubled its stake in the company by 100.0%, bringing its total ownership to 2,946 shares, valued at $41,000 after purchasing an additional 1,473 shares. Also, LRI Investments LLC initiated a new position in the first quarter, amounting to around $45,000.

GAMMA Investing LLC increased its holdings by 113.8% in the second quarter, after acquiring 1,764 shares, now owning 3,314 shares worth $45,000. In addition, UMB Bank n.a. raised its position in F.N.B. by 82.3% during the third quarter, now holding 3,687 shares valued at $52,000, thanks to the purchase of 1,665 additional shares. Currently, approximately 79.25% of F.N.B. stock is owned by institutional investors.

F.N.B. Stock Performance

As of Friday, the stock price for F.N.B. opened at $16.14. The company maintains a debt-to-equity ratio of 0.40 and a current ratio of 0.93. With a market capitalization of $5.80 billion, F.N.B. shows a price-to-earnings ratio of 14.81 and a beta of 0.95. Over the past year, the stock has reached a low of $10.98 and a high of $16.76. The firm’s 50-day simple moving average stands at $14.33, while the 200-day average is $14.06.

Recent Earnings Results

F.N.B. Co. recently reported its quarterly earnings on October 17th. The bank announced earnings per share (EPS) of $0.34, which fell short of the consensus estimate of $0.36 by $0.02. Revenue for the quarter was recorded at $413.02 million, surpassing the consensus expectation of $409.80 million. The net margin for F.N.B. was 16.29%, with a return on equity of 8.49%. Analysts predict that F.N.B. Co. will achieve an EPS of 1.35 for the current year.

Analyst Ratings and Price Targets

In recent comments, various brokerages have expressed their views on F.N.B. Stephens increased the price target for the stock from $16.00 to $18.00 and rated it as “overweight” in a report dated October 21st. Piper Sandler reaffirmed an “overweight” rating on F.N.B.'s shares a few days earlier. Meanwhile, StockNews.com upgraded F.N.B. from a “sell” to a “hold” rating on October 21st. Two analysts currently rate the stock as a hold, while five have given it a buy rating, leading to a consensus rating of “Moderate Buy” with an average target price of $16.33, according to MarketBeat.com.

About F.N.B. Corporation

F.N.B. Corporation is a financial holding company that offers a wide variety of financial products and services primarily for individuals, corporations, governments, and small to medium-sized businesses throughout the United States. The company operates through three main segments: Community Banking, Wealth Management, and Insurance.

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