Regional lender FNB Q3 adjusted EPS beats estimates

Overview

• FNB Q3 adjusted EPS of $0.41 beats analyst expectations

• Company reports record Q3 revenue of $457 mln, driven by net interest income growth

• Net income for Q3 rises 37% yr/yr to $149.5 mln

• Company repurchased $12 mln of common stock, indicating financial confidence

Outlook

• Company did not provide specific future guidance

Result Drivers

• NET INTEREST INCOME GROWTH - Record net interest income driven by increased earning assets and lower cost of funds

• RECORD NON-INTEREST INCOME - Non-interest income reached record levels, benefiting from diversified business model

• TECHNOLOGY INVESTMENTS - Investments in digital capabilities and AI broaden household penetration and strengthen client relationships

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for FNB Corp is $18.50, about 14.6% above its October 15 closing price of $15.79

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nPn5R7600a

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