Monday, January 27, 2020

F.N.B. Corp. Comes Up A Little Short In Q4, But The Growth Story Is Intact

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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