Successfully Differentiating Itself On Growth Is A Key Opportunity For F.N.B.

 

I haven't generally been all that bullish on F.N.B. Corp (NYSE:FNB), and over the last couple of years, that has been the right call, as the shares of this Pittsburgh-based bank have underperformed peers and the S&P 500. Looking at recent results, though, and the opportunity in markets like North Carolina and Baltimore, I see more potential for worthwhile acceleration and some outperformance over its regional peers.

Given F.N.B.'s appealing mix of "big bank" product offerings and "small bank' service quality, I do think F.N.B. can be a share gainer in its legacy markets while also leveraging above-average growth potential in newer markets. If F.N.B. can generate around 5% to 6% long-term core earnings growth, these shares look around 10% to 20% undervalued today after basically matching its peer group since my last update.

 

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Successfully Differentiating Itself On Growth Is A Key Opportunity For F.N.B.