F.N.B. (FNB – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Brandon Berman from Bank of America Securities maintained a Buy rating on the stock and has a $17.00 price target.
Brandon Berman has given his Buy rating due to a combination of factors including F.N.B.’s recent financial performance and strategic initiatives. The company reported first-quarter earnings per share that exceeded expectations, driven by lower expenses, and management has maintained its full-year outlook without needing to adjust underlying assumptions. This stability, coupled with a new strategic focus on enhancing fee-based income, is expected to have a significant impact in the coming years.
Additionally, F.N.B. has shown better-than-expected growth in loans and deposits, which indicates strong customer relationships and offsets seasonal outflows. The company’s financial health is further supported by a solid capital position, with an increase in the tangible common equity ratio and a record common equity tier 1 ratio. These positive financial indicators, along with a price objective significantly higher than the current stock price, underpin Berman’s optimistic outlook for F.N.B.’s stock performance.
In another report released on April 9, Wells Fargo also maintained a Buy rating on the stock with a $16.00 price target.
FNB’s price has also changed moderately for the past six months – from $14.780 to $12.230, which is a -17.25% drop .