A lot of smaller banks have come up a little short in terms of core earnings growth this quarter, and F.N.B. Corp. (FNB)
("FNB") is no exception. While FNB's overall spread performance and
loan growth was not this quarter, results did come up a little short of
expectations and next year could be a challenging one for positive
operating leverage.
Longer term, though, there's a
lot to like here. FNB has improved its capital meaningfully, offers good
expense leverage for a bank its size and has legitimate growth
opportunities in attractive markets like North Carolina, particularly
with a chance to benefit from any merger fallout from Truist (TFC).
With fair value of around $13 to $14, this is a name worth considering
for investors who want exposure to a growing Mid-Atlantic bank.
Read the full article here:
F.N.B. Corp. Comes Up A Little Short In Q4, But The Growth Story Is Intact
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