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F.N.B. Corp (FNB)
NYSE:FNB
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F.N.B.
(NYSE:FNB)
76Outperform
Positive Factors
Capital Position
The company's common equity tier 1 ratio reached a record 10.7%, indicating strong capital position.
Cost Management
The reported expense increase was within the guidance range and better than expected, showing effective cost management.
Loan and Deposit Growth
Loan and deposit growth exceeded expectations, with loans increasing by 0.9% and deposits by 0.4% quarter-over-quarter.
Negative Factors
Capital Levels
FNB is not rewarded for its improved capital position, as investor caution persists due to capital levels.
Expense Increase
Expenses were the largest negative surprise, increasing 3.7% quarter over quarter versus the estimate of 0.3%.
Investor Skepticism
Short interest appears elevated, which might indicate investor skepticism about the stock's performance.
F.N.B. (FNB) vs. S&P 500 (SPY)
Market Cap
$4.76B
Dividend Yield3.67%
Average Volume (3M)3.54M
Price to Earnings (P/E)10.5
Beta (1Y)1.22
Revenue Growth10.18%
EPS Growth2.27%
CountryUS
Employees4,104
SectorFinancial
Sector Strength88
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.26
Shares Outstanding359,461,460
10 Day Avg. Volume3,833,695
30 Day Avg. Volume3,537,544
Financial Highlights & Ratios
PEG Ratio4.61
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.86
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit3.93
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.83Price Target Upside19.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
F.N.B. Business Overview & Revenue Model
Company DescriptionF.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services. The company also provides consumer banking products and services, such as deposit products, mortgage and consumer lending services, and mobile and online banking services; and wealth management services comprising personal and corporate fiduciary services comprising administration of decedent and trust estates; securities brokerage and investment advisory services, mutual funds, and annuities; and commercial and personal insurance, and reinsurance products, as well as mezzanine financing options for small- to medium-sized businesses. As of December 31, 2021, it operated 334 banking offices in Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C., and Virginia. F.N.B. Corporation was founded in 1864 and is headquartered in Pittsburgh, Pennsylvania.
How the Company Makes MoneyFNB makes money primarily through the interest income generated from its lending activities, including personal loans, commercial loans, and mortgages. The spread between the interest rates it charges on loans and the rates it pays on deposits is a significant source of revenue. Additionally, FNB earns non-interest income from service charges on deposit accounts, fees from card services, and wealth management services. The company also generates revenue through its insurance services and by providing investment advisory services. Strategic partnerships and acquisitions in the financial sector further contribute to its earnings by expanding its customer base and enhancing its service offerings.
F.N.B. Financial Statement Overview
Summary
F.N.B. demonstrates strong revenue growth and profitability, supported by efficient cash flow management and a conservative balance sheet. Despite the absence of some operating metrics like EBITDA, the company's financial health appears solid with a focus on stability and prudent leverage. Continued growth in revenue and cash flow, combined with operational efficiency, positions F.N.B. well in the banking industry.Income Statement
F.N.B. shows a strong and consistent growth in revenue over the years with a Revenue Growth Rate of 0.95% in the latest year. The Gross Profit Margin is impressive at 100% due to the nature of the banking industry, while the Net Profit Margin slightly decreased to 20.66% this year. The EBIT Margin is extraordinarily high at 99.07%, indicating strong operational efficiency. However, the absence of EBITDA data limits a full evaluation of operating profitability.82
Very Positive
Balance Sheet
The balance sheet of F.N.B. is solid with a reasonable Debt-to-Equity Ratio of 0.20, suggesting a conservative leverage approach. The Return on Equity stands at 7.38%, indicating moderate profitability for shareholders. The Equity Ratio is 12.96%, reflecting a stable capital structure. The decreasing total debt over the years adds to the financial stability, though the growth in stockholders' equity has been moderate.75
Positive
Cash Flow
The cash flow statement is robust, with Free Cash Flow showing significant growth at 91.64% over the last year. The Operating Cash Flow to Net Income Ratio is 1.38, indicating efficient conversion of net income into cash. The Free Cash Flow to Net Income Ratio is also noteworthy at 1.38, highlighting strong cash generation capabilities relative to profits. Overall, cash flow management appears strong and stable.88
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 2.25B | 2.23B | 1.44B | 1.24B | 1.22B | Gross Profit |
| 2.25B | 2.23B | 1.44B | 1.24B | 1.22B | EBIT |
| 2.23B | 0.00 | 717.91M | 503.10M | 343.49M | EBITDA |
| 0.00 | 1.00M | 616.00M | 561.00M | 390.00M | Net Income Common Stockholders |
| 465.33M | 485.00M | 439.00M | 405.00M | 286.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 3.88B | 4.83B | 4.95B | 6.92B | 4.85B | Total Assets |
| 48.63B | 46.16B | 43.73B | 39.51B | 37.35B | Total Debt |
| 1.26B | 4.48B | 2.46B | 2.22B | 2.90B | Net Debt |
| 840.00M | 2.90B | 791.00M | -1.27B | 1.52B | Total Liabilities |
| 42.32B | 40.11B | 38.07B | 34.36B | 32.40B | Stockholders Equity |
| 6.30B | 6.05B | 5.65B | 5.15B | 4.96B |
| Cash Flow | Free Cash Flow | |||
| 642.00M | 335.00M | 1.12B | 472.00M | 72.00M | Operating Cash Flow |
| 642.00M | 423.00M | 1.22B | 530.00M | 113.00M | Investing Cash Flow |
| -1.70B | -2.26B | -3.06B | -153.00M | -1.82B | Financing Cash Flow |
| 1.90B | 1.74B | 18.00M | 1.73B | 2.49B |
F.N.B. Technical Analysis
Neutral
13.25
Price Trends
13.32
Negative
14.28
Negative
14.41
Negative
Market Momentum
0.01
Negative
53.72
Neutral
66.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNB, the sentiment is Neutral. The current price of 13.25 is above the 20-day moving average (MA) of 12.52, below the 50-day MA of 13.32, and below the 200-day MA of 14.41, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.72 is Neutral, neither overbought nor oversold. The STOCH value of 66.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FNB.
F.N.B. Risk Analysis
F.N.B. disclosed 39 risk factors in its most recent earnings report. F.N.B. reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
F.N.B. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $4.31B | 6.18 | 12.85% | 3.80% | 13.85% | 2.51% | |
76 Outperform | $4.76B | 10.47 | 7.39% | 3.67% | 10.18% | 2.27% | |
75 Outperform | $4.01B | 8.82 | 11.55% | 3.17% | -2.86% | ― | |
73 Outperform | $4.38B | 22.98 | 6.63% | 3.24% | 8.10% | 6.95% | |
68 Neutral | $4.69B | 9.48 | 9.73% | 6.42% | -0.21% | 1.69% | |
66 Neutral | $4.82B | 12.53 | 5.48% | 5.12% | 1.60% | -18.84% | |
63 Neutral | $12.46B | 9.56 | 8.14% | 17044.64% | 12.63% | -4.25% |
* Financial Sector Average
Performance Comparison
FNB
F.N.B.
13.25
0.05
0.38%
OZK
Bank OZK
43.22
-1.20
-2.70%
COLB
Columbia Banking System
22.99
4.37
23.47%
GBCI
Glacier Bancorp
41.06
4.24
11.52%
HWC
Hancock Whitney
52.71
6.99
15.29%
VLY
Valley National Bancorp
8.71
1.60
22.50%
F.N.B. Earnings Call Summary
Earnings Call Date:Apr 16, 2025
(Q1-2025)
| % Change Since: 8.34%|
Next Earnings Date:Jul 16, 2025
Earnings Call Sentiment Positive
The earnings call presented several positive metrics such as record capital levels, tangible book value growth, and stable non-interest income. However, challenges such as the potential impact of tariffs and reduced commercial real estate activities were also highlighted. Despite some lowlights, the consistent growth in net interest income and loan and deposit growth indicate a generally positive sentiment.Q1-2025 Updates
Positive Updates
Record Capital Levels
F.N.B. achieved record capital levels with CET1 at 10.7% and tangible common equity to tangible assets at 8.4%.
Tangible Book Value Growth
Tangible book value per share grew by 12% to $10.83.
Net Interest Income Growth
Net interest income increased by $1.6 million from the prior quarter, even with two fewer days.
Non-Interest Income Stability
Non-interest income totaled $87.8 million, consistent with the year-ago quarter.
Loan and Deposit Growth
Annualized loan and deposit growth were 3.5% and 1.4% respectively, in a seasonally slower period.
Digital Banking Enhancements
Launched automated direct deposit switch capabilities to improve digital banking experience.
Asset Quality Metrics
Total delinquency ended the quarter at 75 basis points, down 8 BPS from the prior quarter.
Negative Updates
Impact of Tariffs
Potential impacts of tariffs on loan portfolio, with less than 5% of exposures at risk of greater impact.
Slower Commercial Real Estate Activity
Commercial real estate portfolio reduced by $283 million in the quarter.
Capital Markets Income Impact
Capital markets income of $5.3 million was impacted by lower commercial customer activity.
Company Guidance
During the first quarter of 2025, F.N.B. Corporation demonstrated solid financial performance with net income available to common shareholders reaching $116.5 million, or $0.32 per share. The company reported total revenue of $411.2 million, primarily driven by growth in net interest income and solid non-interest income, which totaled $87.8 million. Tangible book value per share increased by 12%, amounting to $10.83, while capital levels remained strong with a Common Equity Tier 1 (CET1) ratio of 10.7% and a tangible common equity to tangible assets ratio of 8.4%. Annualized loan and deposit growth were reported at 3.5% and 1.4%, respectively. The net interest margin was stable at 3.03%, with March's margin improving to 3.08%. On the credit side, the total delinquency rate was 75 basis points, down 8 basis points from the previous quarter, and net charge-offs were 15 basis points. F.N.B.'s proactive credit risk management included stress testing and a thorough assessment of the potential impact of tariffs, which indicated manageable exposure with less than 5% of commercial and industrial (C&I) loans at risk. Looking forward, F.N.B. maintained its full-year guidance, projecting mid-single-digit growth in loans and deposits by the end of 2025, and expects improved financial performance with positive operating leverage in the second half of the year.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.