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

Principal Financial Group Inc. has increased its investment in F.N.B. Co. (NYSE:FNB – Free Report) by 2.6% during the third quarter of the year, according to Holdings Channel. The firm now holds a total of 4,952,429 shares of the bank’s stock, having acquired an additional 127,516 shares in this period. The value of Principal Financial Group Inc.’s holdings in F.N.B. was approximately $69,879,000 at the conclusion of the most recent quarter.

In addition to Principal Financial Group, several other institutional investors have also adjusted their shares in F.N.B. Co. Kathleen S. Wright Associates Inc. established a new position in F.N.B. during the third quarter, investing about $28,000. Richardson Financial Services Inc. boosted its holdings by 100% in the same period, now owning 2,946 shares valued at $41,000 after purchasing an extra 1,473 shares last quarter. Meanwhile, LRI Investments LLC initiated a new stake in F.N.B. during the first quarter, estimated at $45,000. GAMMA Investing LLC also increased its position by 113.8% in the second quarter, now owning 3,314 shares worth $45,000, having added 1,764 shares. Additionally, UMB Bank n.a. raised its investment in F.N.B. by 82.3% in the third quarter, bringing its total to 3,687 shares valued at $52,000 after acquiring another 1,665 shares. Presently, institutional investors own approximately 79.25% of F.N.B.’s stock.

F.N.B. Stock Performance

The stock opened at $16.14 on Friday. F.N.B. has a debt-to-equity ratio of 0.40, a quick ratio of 0.92, and a current ratio of 0.93. The company boasts a market capitalization of $5.80 billion and has a price-to-earnings ratio of 14.81 along with a beta of 0.95. Over the past year, F.N.B. Co. has seen a low of $10.98 and a high of $16.76. Currently, its 50-day simple moving average is at $14.33, and the 200-day simple moving average is $14.06.

F.N.B. (NYSE:FNB – Get Free Report) recently reported its quarterly earnings on Thursday, October 17th. The bank's earnings per share (EPS) were $0.34, falling short of the consensus estimate of $0.36 by $0.02. The company generated revenues of $413.02 million during the quarter, slightly exceeding the anticipated revenue of $409.80 million. F.N.B. holds a net margin of 16.29% and a return on equity of 8.49%. Analysts forecast that F.N.B. Co. will have earnings per share of 1.35 for the current fiscal year.

Recent Analyst Ratings

Several financial analysts have commented on F.N.B. stock lately. On October 21st, Stephens raised their price target for F.N.B. from $16.00 to $18.00 and classified the stock as “overweight.” Piper Sandler maintained an “overweight” rating for F.N.B. in a report released on October 18th. StockNews.com also upgraded F.N.B. from a “sell” rating to a “hold” rating as of October 21st. Presently, two analysts have a hold rating on the stock, while five have rated it as a buy. According to MarketBeat.com, F.N.B. currently has a consensus rating of “Moderate Buy” with an average target price of $16.33.

Company Overview

F.N.B. Corporation is a bank and financial holding company that provides various financial products and services primarily aimed at consumers, corporations, government entities, and small to medium-sized businesses across the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.

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