Regional banking company F.N.B. Corporation (NYSE: FNB) will be reporting earnings this Thursday after the bell. Here’s what to expect.
F.N.B. Corporation met analysts’ revenue expectations last quarter, reporting revenues of $411.6 million, up 1.2% year on year. It was a mixed quarter for the company, with 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.
This quarter, analysts are expecting F.N.B. Corporation’s revenue to grow 4.7% year on year to $422.8 million, a reversal from the 1.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.
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 has missed Wall Street’s revenue estimates five times over the last two years.
Looking at F.N.B. Corporation’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fulton Financial’s revenues decreased 3.2% year on year, beating analysts’ expectations by 1.9%, and FB Financial reported a revenue decline of 40.1%, falling short of estimates by 43.5%. FB Financial traded down 4.4% following the results.
Read our full analysis of Fulton Financial’s results here and FB Financial’s results here.
There has been positive sentiment among investors in the banks segment, with share prices up 8.3% on average over the last month. F.N.B. Corporation is up 11.8% during the same time and is heading into earnings with an average analyst price target of $17.25 (compared to the current share price of $15.36).
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