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

Principal Financial Group Inc. has increased its ownership in F.N.B. Co. (NYSE:FNB) by 2.6% during the third quarter, according to Holdings Channel reports. At the close of the quarter, Principal Financial Group owned 4,952,429 shares of the bank’s stock, after acquiring an additional 127,516 shares. The value of Principal Financial Group’s holdings in F.N.B. stood at approximately $69,879,000.

In addition to Principal Financial Group, several other large investors have adjusted their positions in F.N.B. Kathleen S. Wright Associates Inc. entered the F.N.B. market by acquiring a new position during the third quarter, worth around $28,000. Richardson Financial Services Inc. doubled its holdings in F.N.B. during the same quarter, owning now 2,946 shares valued at $41,000 after purchasing 1,473 additional shares. LRI Investments LLC also bought into F.N.B. earlier this year, establishing a position worth about $45,000. GAMMA Investing LLC enhanced its F.N.B. stake by 113.8% during the second quarter, raising its total to 3,314 shares, now valued at about $45,000. Furthermore, UMB Bank n.a. increased its stake by 82.3% in the third quarter, holding 3,687 shares worth $52,000 after buying an additional 1,665 shares. Overall, institutional investors possess approximately 79.25% of F.N.B. stock.

F.N.B. Stock Performance Overview

F.N.B. stock opened at $16.14 on the last trading session. The company has maintained a debt-to-equity ratio of 0.40, with a quick ratio of 0.92 and a current ratio of 0.93. F.N.B. has a market capitalization of $5.80 billion and a price-to-earnings ratio of 14.81, alongside a beta of 0.95. The bank’s stock has ranged between a 52-week low of $10.98 and a 52-week high of $16.76. As of now, the stock’s 50-day and 200-day simple moving averages are $14.33 and $14.06, respectively.

On October 17th, F.N.B. announced its quarterly earnings results, revealing an earnings per share (EPS) of $0.34. This figure fell short of the consensus estimate of $0.36 by $0.02. During the quarter, the company reported a revenue of $413.02 million, slightly above the expected $409.80 million. F.N.B. registered a net margin of 16.29% and a return on equity of 8.49%. Analysts project that for the current fiscal year, F.N.B. is likely to report an EPS of 1.35.

Analyst Ratings and Recommendations

Recent analysis from various brokerages regarding F.N.B. has led to an adjustment in stock ratings. On October 21st, Stephens raised its price target for F.N.B. from $16.00 to $18.00, while also assigning an “overweight” rating to the stock. Piper Sandler reaffirmed their “overweight” rating on F.N.B. shares on October 18th. Additionally, StockNews.com upgraded F.N.B. from a “sell” rating to a “hold” rating on October 21st. Currently, there are two ratings for holding the stock and five buy ratings. According to MarketBeat.com, F.N.B. has an average rating classified as a “Moderate Buy,” with a target price averaging $16.33.

About F.N.B. Corporation

F.N.B. Corporation is a bank and financial holding entity that offers a variety of financial products and services to consumers, corporations, governmental entities, and small to medium-sized businesses throughout the United States. The company operates through several segments, including Community Banking, Wealth Management, and Insurance.

Principal, FNB, Investment