DB:FN2

Stock Analysis Report

Executive Summary

F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses.

Snowflake

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has F.N.B's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FN2 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.8%

FN2

-4.5%

DE Banks

0.1%

DE Market


1 Year Return

7.7%

FN2

-26.5%

DE Banks

8.8%

DE Market

Return vs Industry: FN2 exceeded the German Banks industry which returned -26.5% over the past year.

Return vs Market: FN2 underperformed the German Market which returned 8.8% over the past year.


Shareholder returns

FN2IndustryMarket
7 Day1.8%-4.5%0.1%
30 Day9.5%2.8%5.9%
90 Day22.2%14.3%15.0%
1 Year12.3%7.7%-24.2%-26.5%12.2%8.8%
3 Year-3.7%-13.9%-14.9%-19.0%25.5%14.5%
5 Yearn/a-8.8%-30.6%40.1%21.0%

Price Volatility Vs. Market

How volatile is F.N.B's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is F.N.B undervalued compared to its fair value and its price relative to the market?

28.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FN2 (€11.5) is trading below our estimate of fair value (€16.08)

Significantly Below Fair Value: FN2 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FN2 is good value based on its PE Ratio (10.7x) compared to the Banks industry average (16x).

PE vs Market: FN2 is good value based on its PE Ratio (10.7x) compared to the German market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: FN2 is poor value based on its PEG Ratio (13.3x)


Price to Book Ratio

PB vs Industry: FN2 is overvalued based on its PB Ratio (0.9x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is F.N.B forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FN2's forecast earnings growth (0.8% per year) is above the savings rate (0.2%).

Earnings vs Market: FN2's earnings (0.8% per year) are forecast to grow slower than the German market (12.7% per year).

High Growth Earnings: FN2's earnings are forecast to grow, but not significantly.

Revenue vs Market: FN2's revenue (3% per year) is forecast to grow slower than the German market (4.9% per year).

High Growth Revenue: FN2's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FN2's Return on Equity is forecast to be low in 3 years time (7.7%).


Next Steps

Past Performance

How has F.N.B performed over the past 5 years?

25.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FN2 has high quality earnings.

Growing Profit Margin: FN2's current net profit margins (32.9%) are higher than last year (25.3%).


Past Earnings Growth Analysis

Earnings Trend: FN2's earnings have grown significantly by 25% per year over the past 5 years.

Accelerating Growth: FN2's earnings growth over the past year (32.9%) exceeds its 5-year average (25% per year).

Earnings vs Industry: FN2 earnings growth over the past year (32.9%) exceeded the Banks industry 0.2%.


Return on Equity

High ROE: FN2's Return on Equity (8.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is F.N.B's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FN2 has a low level of unsold assets or inventory.

Debt Coverage by Assets: FN2's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: FN2's level of assets compared to its equity is low.

Allowance for Bad Loans: FN2 has a sufficient allowance for bad loans.

Low Risk Liabilities: FN2's liabilities are made up of primarily low risk sources of funding.

Loan Level: FN2 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FN2's loans are broadly funded by customer deposits.

Level of Bad Loans: FN2 has an appropriate level of bad loans (0.41%)


Next Steps

Dividend

What is F.N.B's current dividend yield, its reliability and sustainability?

3.78%

Current Dividend Yield


Upcoming Dividend Payment

Purchase F.N.B before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.8%marketbottom25%1.4%markettop25%3.7%industryaverage3.7%forecastin3Years3.8%

Current dividend yield vs market & industry

Notable Dividend: FN2's dividend (3.78%) is higher than the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: FN2's dividend (3.78%) is in the top 25% of dividend payers in the German market (3.68%)


Stability and Growth of Payments

Stable Dividend: FN2's dividend payments have been volatile in the past 10 years.

Growing Dividend: FN2's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.6%), FN2's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FN2's dividends in 3 years are forecast to be well covered by earnings (40.4% payout ratio).


Next Steps

Management

What is the CEO of F.N.B's salary, the management and board of directors tenure and is there insider trading?

4.8yrs

Average management tenure


CEO

Vince Delie (54yo)

7.8yrs

Tenure

US$5,961,689

Compensation

Mr. Vincent J. Delie, Jr., also known as Vince, is the Board Chairman, President and CEO of F.N.B. Corporation. Mr. Delie joined F.N.B. in 2005 as President and CEO of the Company’s Pittsburgh Region. Begi ...


CEO Compensation Analysis

Compensation vs Market: Vince's total compensation ($USD5.96M) is above average for companies of similar size in the German market ($USD2.52M).

Compensation vs Earnings: Vince's compensation has been consistent with company performance over the past year.


Management Age and Tenure

4.8yrs

Average Tenure

56yo

Average Age

Experienced Management: FN2's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

6.5yrs

Average Tenure

62.5yo

Average Age

Experienced Board: FN2's board of directors are considered experienced (6.5 years average tenure).


Insider Trading

Insider Buying: FN2 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$5,43824 Oct 19
Pamela Bena
EntityIndividual
Shares500
Max PriceUS$10.88
BuyUS$19,78213 Aug 19
Frank Mencini
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$9.89
BuyUS$32,02413 Aug 19
James Chiafullo
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,300
Max PriceUS$9.82
BuyUS$24,78312 Aug 19
David Motley
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,500
Max PriceUS$9.91
BuyUS$5,48931 Jul 19
Pamela Bena
EntityIndividual
Shares500
Max PriceUS$10.98
BuyUS$44,13713 May 19
Mary Dively
EntityIndividual
Shares4,000
Max PriceUS$11.03
BuyUS$5,40801 May 19
Pamela Bena
EntityIndividual
Shares500
Max PriceUS$10.82
SellUS$30,51908 Feb 19
William Campbell
EntityIndividual
Role
Lead Director
Lead Director
Shares2,900
Max PriceUS$10.52
BuyUS$31,07106 Feb 19
Mary Dively
EntityIndividual
Shares3,000
Max PriceUS$10.36
BuyUS$10,33631 Jan 19
Pamela Bena
EntityIndividual
Shares1,000
Max PriceUS$10.34

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Vince Calabrese (56yo)

    Chief Financial Officer

    • Tenure: 10.4yrs
    • Compensation: US$2.06m
  • James Orie (61yo)

    Chief Legal Officer & Corporate Secretary

    • Tenure: 15.8yrs
    • Compensation: US$277.03k
  • Gary Guerrieri (59yo)

    Chief Credit Officer

    • Tenure: 8.6yrs
    • Compensation: US$1.27m
  • Vince Delie (54yo)

    Chairman

    • Tenure: 7.8yrs
    • Compensation: US$5.96m
  • Barry Robinson (56yo)

    Chief Consumer Banking Officer

    • Tenure: 4.3yrs
    • Compensation: US$1.08m
  • Robert Moorehead (64yo)

    Chief Wholesale Banking Officer

    • Tenure: 4.2yrs
    • Compensation: US$1.23m
  • Jim Dutey (45yo)

    Corporate Controller

    • Tenure: 2.7yrs
  • Matthew Lazzaro

    Manager of Investor Relations

    • Tenure: 4.8yrs
  • Jennifer Reel

    Director of Corporate Communications

    • Tenure: 0yrs
  • Robert DeLisio

    Chief Investment Officer

    • Tenure: 1.1yrs

Board Members

  • Robert Hormell (71yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$127.53k
  • Bill Campbell (80yo)

    Lead Director

    • Tenure: 11.8yrs
    • Compensation: US$164.48k
  • William Strimbu (58yo)

    Independent Director

    • Tenure: 24.5yrs
    • Compensation: US$138.57k
  • Jim Chiafullo (61yo)

    Independent Director

    • Tenure: 7.1yrs
    • Compensation: US$135.03k
  • John Stanik (65yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$128.36k
  • David Malone (64yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$143.57k
  • Vince Delie (54yo)

    Chairman

    • Tenure: 7.8yrs
    • Compensation: US$5.96m
  • David Motley (60yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: US$138.15k
  • Heidi Nicholas (64yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$148.57k
  • Frank Mencini (54yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$153.15k

Company Information

F.N.B. Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: F.N.B. Corporation
  • Ticker: FN2
  • Exchange: DB
  • Founded: 1864
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$4.087b
  • Listing Market Cap: US$3.715b
  • Shares outstanding: 322.09m
  • Website: https://www.fnb-online.com

Number of Employees


Location

  • F.N.B. Corporation
  • One North Shore Center
  • 12 Federal Street
  • Pittsburgh
  • Pennsylvania
  • 15212
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNBNYSE (New York Stock Exchange)YesCommon StockUSUSDSep 1986
FN2DB (Deutsche Boerse AG)YesCommon StockDEEURSep 1986
FNB.PRENYSE (New York Stock Exchange)DEP SHS 1/40 PFDUSUSDNov 2013

Biography

F.N.B. Corporation, a financial holding company, provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses. The company operates throug ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 21:48
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.