Regional banking company F.N.B. Corporation (NYSE: FNB) will be reporting results tomorrow after market hours. Here’s what to look for.
F.N.B. Corporation missed analysts’ revenue expectations last quarter, reporting revenues of $453.4 million, up 9.4% year on year. It was a slower quarter for the company, with EPS in line with analysts’ estimates and a slight miss of analysts’ net interest income 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 6.3% year on year, slowing from the 8.5% 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 will stay the course heading into earnings. F.N.B. Corporation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at F.N.B. Corporation’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. First Horizon delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 0.7%, and M&T Bank reported revenues up 5.5%, topping estimates by 2.5%.
Read our full analysis of First Horizon’s results here and M&T Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 3.7% on average over the last month. F.N.B. Corporation is up 3.8% during the same time and is heading into earnings with an average analyst price target of $21.25 (compared to the current share price of $19.09).
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