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Ray DalioHeld
Bridgewater Associates · Q2 2026
$34.44M
1.8M shares · 0.1% of portfolio
FNB Corp
FNB Corp (FNB) is listed on NYSE and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Pittsburgh, United States and has 4,128 employees. The company is worth $6.42B and trades at 10.7x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $1.77B in fiscal 2025, up 10.6% from the year before. Net income was $565M. The share price is 7.2% below its 52-week high of $19.59. It pays a dividend yielding 2.86%. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $197.33M. In that quarter, 2 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +47.8% over 5Y.
today you would have $1,759.94▲ +76.0%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 18 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $17.10 | $14.78 | $13.77 | $13.05 | $12.13 | $9.50 | $12.70 | $9.84 | $13.82 | $16.03 | $13.34 | $13.32 | $12.62 | $10.62 | $11.31 | $9.82 | $6.79 | $13.20 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 12.9% a year plus a 2.9% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 14.3 across this company’s own years on record.
Cash flow growing 12.9% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 0.2% a year against a 8.4% required return, from the stock’s beta.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| ACTEnact Holdings, Inc. | $46.92 | 9.6x | 1.2x | 2.05% | 12.87% | $6.45B |
| OMFOneMain Holdings, Inc. | $57.11 | 8.6x | 1.9x | 7.35% | 23.28% | $6.57B |
| UBSIUnited Bankshares Inc | $48.46 | 12.9x | 1.2x | 3.14% | 9.47% | $6.6B |
| VCTRVictory Capital Holdings, Inc. |
| P/E | 14.3x | 11.0x | 11.6x | 10.5x | 10.7x | 9.9x | 11.2x | 10.9x | 8.8x | 21.9x | 20.6x | 15.5x | 16.6x | 15.8x | 13.4x | 16.2x | 15.1x | 21.2x | 30.0x |
| P/S | 3.4x | 3.5x | 3.3x | 3.1x | 3.3x | 3.5x | 2.5x | 3.4x | 2.6x | 4.1x | 4.2x | 4.2x | 3.7x | 3.9x | 2.9x | 3.6x | 3.0x | 1.9x | — |
| P/B | 0.9x | 0.9x | 0.8x | 0.8x | 0.8x | 0.8x | 0.6x | 0.8x | 0.7x | 1.0x | 1.3x | 1.3x | 1.1x | 1.2x | 1.1x | 1.3x | 1.1x | 0.7x | — |
| EPS | $1.56 | $1.27 | $1.31 | $1.22 | $1.23 | $0.85 | $1.16 | $1.12 | $0.63 | $0.78 | $0.86 | $0.80 | $0.80 | $0.79 | $0.70 | $0.65 | $0.32 | $0.44 |
| Dividend yield | 3.79% | 2.81% | 3.25% | 3.49% | 3.68% | 3.96% | 5.05% | 3.78% | 4.88% | 3.47% | 2.99% | 3.60% | 3.60% | 3.80% | 4.52% | 4.24% | 4.89% | 7.07% | 7.27% |
| Payout | 58.24% | 30.77% | 37.80% | 36.64% | 39.34% | 39.02% | 56.47% | 41.38% | 42.86% | 76.19% | 61.54% | 55.81% | 60.00% | 60.00% | 60.76% | 68.57% | 73.85% | 150.00% | 218.18% |
| Profit margin | 23.29% | 32.01% | 29.14% | 30.87% | 30.42% | 32.74% | 23.52% | 31.96% | 30.88% | 18.12% | 21.03% | 24.17% | 23.06% | 22.15% | 21.90% | 19.95% | 18.62% | 11.04% | 10.53% |
| ROE | 7.29% | 8.36% | 7.38% | 8.02% | 7.77% | 7.86% | 5.77% | 7.93% | 8.09% | 4.51% | 6.65% | 7.62% | 7.13% | 6.64% | 7.87% | 7.19% | 7.00% | 3.94% | 3.84% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+6.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $107.39 |
| 19.6x |
| 2.8x |
| 1.86% |
| 19.05% |
| $6.61B |
| FAFFirst American Financial Corp | $65.07 | 9.0x | 1.2x | 3.75% | 13.85% | $6.64B |
| RLIRLI Corp | $67.01 | 14.9x | 3.6x | 6.98% | 22.13% | $6.15B |