F.N.B. initiated with a Buy at Truist

Truist analyst David Smith initiated coverage of F.N.B. (FNB) with a Buy rating and $16.50 price target The bank has a “sizeable presence in the fast-growing” Carolinas, balancing its core Pennsylvania footprint, the analyst tells investors in a research The firm says the company’s funding base has more granular deposit franchise than peers, with a “differentiated” digital offering, while it has demonstrated a “consistent, disciplined underwriting track record.”