F.N.B. Co. (NYSE:FNB) Shares Sold by Principal Financial Group Inc.

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

Several other hedge funds and other institutional investors have also made changes to their positions in FNB. Stieven Capital Advisors L.P. lifted its holdings in F.N.B. by 8.0% during the 4th quarter. Stieven Capital Advisors L.P. now owns 823,591 shares of the bank’s stock worth $12,173,000 after buying an additional 60,900 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of F.N.B. by 4.7% in the fourth quarter. Congress Asset Management Co. now owns 168,344 shares of the bank’s stock valued at $2,488,000 after acquiring an additional 7,570 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in F.N.B. in the fourth quarter valued at $863,000. Savant Capital LLC increased its holdings in F.N.B. by 1.4% during the 4th quarter. Savant Capital LLC now owns 52,065 shares of the bank’s stock worth $770,000 after purchasing an additional 708 shares during the period. Finally, Empowered Funds LLC acquired a new stake in F.N.B. in the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

F.N.B. Stock Performance

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

F.N.B. Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity

In related news, Director William B. Campbell acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $15.57 per share, with a total value of $46,710.00. Following the transaction, the director now owns 158,834 shares of the company’s stock, valued at $2,473,045.38. The trade was a 1.93 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent J. Delie, Jr. sold 125,000 shares of the business’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 value of $2,062,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,652,229 shares in the company, valued at approximately $27,261,778.50. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company’s stock.

About F.N.B.

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.