Regional banking company F.N.B. Corporation (NYSE: FNB) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
F.N.B. Corporation beat analysts’ revenue expectations last quarter, reporting revenues of $460.9 million, up 12.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ tangible book value per share estimates.
Is F.N.B. Corporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting F.N.B. Corporation’s revenue to grow 10.1% year on year, improving from the 1.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. F.N.B. Corporation rarely misses Wall Street’s revenue estimates.
Looking at F.N.B. Corporation’s peers in the banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 30.8%, missing analysts’ expectations by 1.7%, and Citigroup reported revenues up 13.9%, topping estimates by 4.9%. FB Financial traded down 2.3% following the results.
Read our full analysis of FB Financial’s results here and Citigroup’s results here.
There has been positive sentiment among investors in the banks segment, with share prices up 9% on average over the last month. F.N.B. Corporation is up 10.8% during the same time and is heading into earnings with an average analyst price target of $20.06 (compared to the current share price of $17.79).
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