Principal Financial Group Inc. Sells 173,741 Shares of F.N.B. Corporation (NYSE:FNB)

Principal Financial Group Inc. decreased its position in F.N.B. Corporation (NYSE:FNB - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,450,877 shares of the bank's stock after selling 173,741 shares during the quarter. Principal Financial Group Inc. owned 1.24% of F.N.B. worth $59,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in F.N.B. in the fourth quarter valued at approximately $177,000. Smartleaf Asset Management LLC raised its holdings in F.N.B. by 40.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,701 shares of the bank's stock worth $84,000 after purchasing an additional 1,631 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of F.N.B. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,940,425 shares of the bank's stock valued at $58,239,000 after acquiring an additional 51,862 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of F.N.B. by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 127,925 shares of the bank's stock valued at $1,891,000 after acquiring an additional 3,801 shares in the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of F.N.B. by 49.8% during the fourth quarter. Aigen Investment Management LP now owns 35,977 shares of the bank's stock valued at $532,000 after acquiring an additional 11,958 shares in the last quarter. Institutional investors own 79.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded F.N.B. from a "market perform" rating to an "outperform" rating and set a $16.50 price target for the company in a report on Monday, April 21st. Truist Financial began coverage on F.N.B. in a research report on Tuesday, May 13th. They set a "buy" rating and a $16.50 price objective on the stock. DA Davidson reaffirmed a "buy" rating and set a $19.00 price objective on shares of F.N.B. in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on F.N.B. from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Wall Street Zen cut F.N.B. from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, F.N.B. presently has an average rating of "Moderate Buy" and an average price target of $17.57.

F.N.B. Stock Performance

NYSE:FNB traded up $0.33 on Tuesday, hitting $15.85. The stock had a trading volume of 1,331,670 shares, compared to its average volume of 2,612,920. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.12 and a beta of 0.92. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The business's 50-day simple moving average is $14.11 and its two-hundred day simple moving average is $14.16. F.N.B. Corporation has a 52-week low of $10.88 and a 52-week high of $17.70.

F.N.B. (NYSE:FNB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $411.61 million for the quarter, compared to the consensus estimate of $409.52 million. F.N.B. had a return on equity of 7.97% and a net margin of 17.78%. During the same quarter last year, the company earned $0.34 EPS. As a group, research analysts predict that F.N.B. Corporation will post 1.45 earnings per share for the current year.

F.N.B. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, June 2nd. F.N.B.'s dividend payout ratio (DPR) is presently 38.10%.

F.N.B. Company 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.