Principal Financial Group Inc. Lowers Holdings in F.N.B. Co. (NYSE:FNB)

Principal Financial Group Inc. decreased its position in F.N.B. Co. (NYSE:FNB - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,624,618 shares of the bank's stock after selling 327,811 shares during the period. Principal Financial Group Inc. owned about 1.29% of F.N.B. worth $68,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FNB. Point72 Asset Management L.P. purchased a new position in shares of F.N.B. during the 3rd quarter valued at $14,190,000. Assenagon Asset Management S.A. raised its stake in F.N.B. by 490.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 929,683 shares of the bank's stock valued at $13,741,000 after acquiring an additional 772,134 shares during the period. Jane Street Group LLC lifted its holdings in F.N.B. by 780.7% during the third quarter. Jane Street Group LLC now owns 357,057 shares of the bank's stock valued at $5,038,000 after purchasing an additional 316,515 shares during the last quarter. State Street Corp boosted its position in F.N.B. by 1.9% during the third quarter. State Street Corp now owns 15,185,397 shares of the bank's stock worth $214,266,000 after purchasing an additional 278,825 shares during the period. Finally, KBC Group NV increased its stake in shares of F.N.B. by 1,164.9% in the fourth quarter. KBC Group NV now owns 286,765 shares of the bank's stock worth $4,238,000 after purchasing an additional 264,094 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

F.N.B. Price Performance

Shares of NYSE FNB traded down $0.35 during mid-day trading on Friday, reaching $14.78. 1,921,180 shares of the company were exchanged, compared to its average volume of 2,207,909. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.31 billion, a PE ratio of 11.73, a PEG ratio of 3.60 and a beta of 1.01. The company's 50 day moving average price is $15.21 and its 200 day moving average price is $15.01. F.N.B. Co. has a 52 week low of $12.49 and a 52 week high of $17.70.

F.N.B. Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.25%. F.N.B.'s dividend payout ratio (DPR) is currently 38.10%.

Analysts Set New Price Targets

FNB has been the topic of a number of recent research reports. Piper Sandler dropped their price target 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. Keefe, Bruyette & Woods increased their target price on F.N.B. from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on F.N.B. from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. DA Davidson increased their price objective 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, Raymond James increased their price target on shares of F.N.B. from $17.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, F.N.B. presently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Insider Buying and Selling at F.N.B.

In other news, CEO Vincent J. Delie, Jr. sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was 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 owns 1,652,229 shares in the company, valued at $27,261,778.50. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Motley sold 15,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the director now directly owns 65,344 shares in the company, valued at approximately $1,013,485.44. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

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.