Dimensional Fund Advisors Cuts FNB Corp/PA Stake to 3.9%

TL;DR

**Big fund just dumped a chunk of FNB Corp/PA shares, now owns only 3.9%.**

AI Summary

Dimensional Fund Advisors LP, a major investment firm, filed an amendment (SC 13G/A) on February 9, 2024, updating its ownership in FNB Corp/PA. As of December 29, 2023, Dimensional Fund Advisors LP reported beneficial ownership of 14,082,735 shares of FNB Corp/PA's Common Stock, representing 3.9% of the company. This is a decrease from their previous reported stake, indicating they have sold a significant portion of their holdings. This matters to investors because a large institutional investor reducing its stake could signal a less optimistic outlook on FNB Corp/PA's future performance, potentially influencing other investors' decisions.

Why It Matters

A major institutional investor, Dimensional Fund Advisors LP, has significantly reduced its ownership in FNB Corp/PA, which could be interpreted as a lack of confidence in the company's future growth prospects.

Risk Assessment

Risk Level: medium — The reduction in a significant institutional holding could indicate potential headwinds for FNB Corp/PA, increasing investment risk.

Analyst Insight

A smart investor would investigate the reasons behind Dimensional Fund Advisors LP's reduction in their FNB Corp/PA stake and consider if this signals underlying issues before making further investment decisions.

Key Numbers

• 14,082,735 — Shares Beneficially Owned (Represents the total number of FNB Corp/PA shares Dimensional Fund Advisors LP owns as of December 29, 2023.)
• 3.9% — Percentage of Class Owned (Indicates the proportion of FNB Corp/PA's common stock owned by Dimensional Fund Advisors LP, a decrease from previous filings.)

Key Players & Entities

• Dimensional Fund Advisors LP (company) — reporting person, investment firm
• FNB Corp/PA (company) — subject company, issuer of securities
• 14,082,735 (dollar_amount) — number of shares beneficially owned
• 3.9% (dollar_amount) — percentage of class beneficially owned
• December 29, 2023 (person) — date of event requiring filing
• February 9, 2024 (person) — filing date

Forward-Looking Statements

• FNB Corp/PA's stock price may experience downward pressure due to the reduced institutional ownership. (FNB Corp/PA) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in FNB Corp/PA following this disclosure. (FNB Corp/PA) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 17KB
• 0000354204-24-003174.txt ( ) — 19KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3 ) * FNB Corp/PA (Name of Issuer) Common Stock (Title of Class of Securities) 302520101 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 302520101 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Dimensional Fund Advisors LP 30-0447847 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 21,073,169 ** see Note 1 ** 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 21,292,074 ** see Note 1 ** 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,292,074 ** see Note 1 ** 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer FNB Corp/PA (b) Address of Issuer's Principal Executive Offices 1 North Shore Center, 12 Federal Street, Pittsburgh, PA 15212 Item 2. (a) Name of Person Filing Dimensional Fund Advisors LP (b) Address of Principal Business Office or, if None, Residence 6300 Bee Cave Road, Building One, Austin, TX 78746 (c) Citizenship Delaware Limited Partnership (d) Title of Class of Securities Common Stock (e) CUSIP Number 302520101 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 21,292,074 ** see Note 1 ** (b) Percent of Class: 5.9% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 21,073,169 ** see Note 1 ** (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 21,292,074 ** see Note 1 ** (iv) shared power to dispose or to direct the disposition of 0 ** Note 1 ** Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the "Funds"). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, "Dimensional") may possess voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deeme