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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 ADJUSTED EPS | Beat | $0.41 | $0.37 (8 Analysts) |
Q3 EPS | $0.41 | ||
Q3 Net Income | $149.50 mln | ||
Q3 Net Interest Income | $359.27 mln | ||
Q3 CET1 Capital Ratio | 11% | ||
Q3 Credit Loss Provision | $23.99 mln |
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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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)