Regional banking company F.N.B. Corporation (NYSE: FNB) will be announcing earnings results this Monday after the bell. Here’s what you need to know.
F.N.B. Corporation missed analysts’ revenue expectations last quarter, reporting revenues of $465.8 million, up 5.6% year on year. It was a softer quarter for the company, with a miss of analysts’ net interest income estimates and EPS in line with analysts’ estimates.
Is F.N.B. Corporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting F.N.B. Corporation’s revenue to grow 3.7% year on year, slowing from the 10.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. F.N.B. Corporation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at F.N.B. Corporation’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Independent Bank delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 0.6%, and Regions Financial reported revenues up 2.6%, topping estimates by 0.6%. Independent Bank traded up 3.6% following the results.
Read our full analysis of Independent Bank’s results here and Regions Financial’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the regional banks stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.1% on average over the last month. F.N.B. Corporation is down 4.5% during the same time and is heading into earnings with an average analyst price target of $20.56 (compared to the current share price of $17.13).
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