Principal Financial Group Inc. Acquires 127,516 Shares of F.N.B. Co. (NYSE:FNB)

Principal Financial Group Inc. increased its position in shares of F.N.B. Co. (NYSE:FNB) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,952,429 shares of the bank’s stock after purchasing an additional 127,516 shares during the period. Principal Financial Group Inc. owned about 1.38% of F.N.B. worth $69,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of F.N.B. during the third quarter valued at approximately $28,000. Richardson Financial Services Inc. boosted its stake in F.N.B. by 100.0% in the 3rd 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. LRI Investments LLC acquired a new stake in F.N.B. in the 1st quarter valued at $45,000. GAMMA Investing LLC boosted its stake in F.N.B. by 113.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock valued at $45,000 after buying an additional 1,764 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in F.N.B. by 82.3% in the 3rd quarter. UMB Bank n.a. now owns 3,687 shares of the bank’s stock valued at $52,000 after buying an additional 1,665 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on FNB shares. Piper Sandler reaffirmed an “overweight” rating on shares of F.N.B. in a research note on Friday, October 18th. Stephens boosted their price objective on F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.33.

F.N.B. Trading Up 0.5 %

Shares of FNB opened at $16.14 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.40. F.N.B. Co. has a 12-month low of $10.98 and a 12-month high of $16.76. The firm has a market capitalization of $5.80 billion, a PE ratio of 14.81 and a beta of 0.95. The stock’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $14.06.

F.N.B. (NYSE:FNB) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $413.02 million during the quarter, compared to the consensus estimate of $409.80 million. F.N.B. had a net margin of 16.29% and a return on equity of 8.49%. As a group, research analysts predict that F.N.B. Co. will post 1.35 earnings per share for the current year.

F.N.B. 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.