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F.N.B

DB:FN2
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FN2
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

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 last earnings update was 56 days ago. More info.


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FN2 Share Price and Events
7 Day Returns
-1%
DB:FN2
3.4%
DE Banks
1.5%
DE Market
1 Year Returns
-9.6%
DB:FN2
-24.3%
DE Banks
-6.2%
DE Market
FN2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
F.N.B (FN2) -1% 1.5% -0.9% -9.6% -16.7% -
DE Banks 3.4% 12% 14.8% -24.3% -2.2% -23%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • FN2 outperformed the Banks industry which returned -24.3% over the past year.
  • FN2 underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
FN2
Industry
5yr Volatility vs Market

Value

 Is F.N.B undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of F.N.B to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for F.N.B.

DB:FN2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= $15.16 * 8.4%
$1.27
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. $15.16
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:FN2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 21%) (133.29%))
1.144
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.144 * 5.96%)
7.05%

Discounted Cash Flow Calculation for DB:FN2 using Excess Returns Model Model

The calculations below outline how an intrinsic value for F.N.B is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:FN2 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.4% – 7.05%) * $15.16)
$0.20
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.20 / (7.05% - 0.23%)
$2.98
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.16 + $2.98
$18.14
DB:FN2 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:FN2 represents 0.81493x of NYSE:FNB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.81493x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 18.14 x 0.81493
€14.79
Value per share (EUR) From above. €14.79
Current discount Discount to share price of €9.77
= -1 x (€9.77 - €14.79) / €14.79
33.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price F.N.B is available for.
Intrinsic value
34%
Share price is €9.77 vs Future cash flow value of €14.79
Current Discount Checks
For F.N.B to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • F.N.B's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • F.N.B's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for F.N.B's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are F.N.B's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FN2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.13
NYSE:FNB Share Price ** NYSE (2019-04-23) in USD $11.99
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.05x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of F.N.B.

DB:FN2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FNB Share Price ÷ EPS (both in USD)

= 11.99 ÷ 1.13

10.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.N.B is good value based on earnings compared to the DE Banks industry average.
  • F.N.B is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does F.N.B's expected growth come at a high price?
Raw Data
DB:FN2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
4.7%per year
Europe Banks Industry PEG Ratio Median Figure of 112 Publicly-Listed Banks Companies 0.83x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:FN2 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.65x ÷ 4.7%

2.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.N.B is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on F.N.B's assets?
Raw Data
DB:FN2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $13.99
NYSE:FNB Share Price * NYSE (2019-04-23) in USD $11.99
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.91x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:FN2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FNB Share Price ÷ Book Value per Share (both in USD)

= 11.99 ÷ 13.99

0.86x

* Primary Listing of F.N.B.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • F.N.B is good value based on assets compared to the DE Banks industry average.
X
Value checks
We assess F.N.B's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. F.N.B has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is F.N.B expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is F.N.B expected to grow at an attractive rate?
  • F.N.B's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • F.N.B's earnings growth is positive but not above the Germany market average.
  • F.N.B's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FN2 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FN2 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 4.7%
DB:FN2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 5.7%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:FN2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FN2 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,291 401 8
2019-12-31 1,230 385 6
DB:FN2 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,153 611 365
2018-09-30 1,144 670 289
2018-06-30 1,125 714 266
2018-03-31 1,100 471 255
2017-12-31 1,037 279 191
2017-09-30 954 228 218
2017-06-30 876 107 193
2017-03-31 800 217 160
2016-12-31 752 293 163
2016-09-30 715 228 151
2016-06-30 675 218 139
2016-03-31 637 251 137

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • F.N.B's earnings are expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
  • F.N.B's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:FN2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from F.N.B Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FN2 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.23 1.30 1.15 10.00
2019-12-31 1.18 1.20 1.16 8.00
DB:FN2 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.13
2018-09-30 0.89
2018-06-30 0.82
2018-03-31 0.79
2017-12-31 0.63
2017-09-30 0.80
2017-06-30 0.79
2017-03-31 0.74
2016-12-31 0.79
2016-09-30 0.76
2016-06-30 0.73
2016-03-31 0.76

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • F.N.B is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess F.N.B's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
F.N.B has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare F.N.B's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • F.N.B has delivered over 20% year on year earnings growth in the past 5 years.
  • F.N.B's 1-year earnings growth exceeds its 5-year average (91.1% vs 20.3%)
  • F.N.B's earnings growth has exceeded the DE Banks industry average in the past year (91.1% vs 5.5%).
Earnings and Revenue History
F.N.B's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from F.N.B Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FN2 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,152.68 364.96 550.08
2018-09-30 1,144.46 288.82 572.10
2018-06-30 1,125.05 265.75 562.83
2018-03-31 1,100.28 254.95 542.18
2017-12-31 1,037.00 190.96 486.00
2017-09-30 954.48 218.33 471.36
2017-06-30 875.92 192.80 441.94
2017-03-31 799.90 159.70 413.39
2016-12-31 751.99 163.00 362.00
2016-09-30 714.84 150.68 375.35
2016-06-30 674.52 138.57 354.88
2016-03-31 637.45 137.40 336.53
2015-12-31 620.19 151.61 325.00
2015-09-30 612.79 151.79 319.54
2015-06-30 603.98 147.13 317.31
2015-03-31 592.30 141.83 313.49
2014-12-31 583.21 135.70 310.39
2014-09-30 563.78 126.84 303.59
2014-06-30 541.59 125.10 295.72
2014-03-31 522.55 121.47 288.49
2013-12-31 499.13 117.80 280.22
2013-09-30 484.45 118.32 269.76
2013-06-30 479.58 117.43 264.69
2013-03-31 475.87 117.37 260.82
2012-12-31 472.80 110.41 260.28
2012-09-30 460.68 105.19 253.25
2012-06-30 442.22 98.22 245.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • F.N.B has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • F.N.B used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if F.N.B improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess F.N.B's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
F.N.B has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of F.N.B's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from F.N.B Company Filings, last reported 3 months ago.

DB:FN2 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,608.00 4,795.00 531.00
2018-09-30 4,524.86 4,381.47 456.60
2018-06-30 4,473.24 5,029.53 454.59
2018-03-31 4,433.45 4,514.26 406.62
2017-12-31 4,409.00 4,376.00 510.00
2017-09-30 4,435.92 4,556.51 558.82
2017-06-30 4,392.44 5,108.71 566.78
2017-03-31 4,355.80 4,312.00 483.37
2016-12-31 2,571.62 3,089.77 425.63
2016-09-30 2,570.58 2,917.12 546.28
2016-06-30 2,545.34 3,018.07 507.18
2016-03-31 2,518.02 2,303.55 433.95
2015-12-31 2,096.18 2,741.98 542.32
2015-09-30 2,094.75 1,892.76 325.06
2015-06-30 2,065.77 2,093.48 280.53
2015-03-31 2,055.28 2,336.41 291.80
2014-12-31 2,021.46 2,629.26 333.29
2014-09-30 2,005.13 2,181.24 272.60
2014-06-30 1,908.08 1,941.12 309.96
2014-03-31 1,884.99 1,561.06 279.55
2013-12-31 1,774.38 1,503.74 247.30
2013-09-30 1,481.65 1,496.67 321.55
2013-06-30 1,469.00 1,361.66 267.74
2013-03-31 1,413.26 1,293.59 213.34
2012-12-31 1,402.07 1,434.73 297.05
2012-09-30 1,395.00 1,376.15 429.82
2012-06-30 1,372.50 1,288.46 282.09
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • F.N.B has an acceptable proportion of non-loan assets held.
  • F.N.B's liabilities are made up of primarily low risk sources of funding.
  • Loans at F.N.B are broadly funded by customer deposits.
  • F.N.B's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • F.N.B has a sufficient allowance for bad loans.
  • F.N.B has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess F.N.B's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. F.N.B has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4%
Current annual income from F.N.B dividends. Estimated to be 4.04% next year.
If you bought €2,000 of F.N.B shares you are expected to receive €80 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • F.N.B's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • F.N.B's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:FN2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:FN2 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.49 8.00
2019-12-31 0.48 8.00
DB:FN2 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.480 4.182
2018-10-17 0.480 4.232
2018-08-15 0.480 3.675
2018-05-16 0.480 3.565
2018-02-21 0.480 3.518
2017-10-18 0.480 3.458
2017-08-16 0.480 3.630
2017-05-17 0.480 3.488
2017-02-15 0.480 3.235
2016-10-19 0.480 3.232
2016-08-17 0.480 3.902
2016-05-18 0.480 3.796
2016-02-17 0.480 3.722
2015-10-22 0.480 3.673
2015-08-19 0.480 3.759
2015-05-20 0.480 3.449
2015-02-18 0.480 3.655
2014-10-15 0.480 3.807
2014-08-20 0.480 3.907
2014-05-21 0.480 3.861
2014-02-19 0.480 3.800
2013-10-16 0.480 3.865
2013-08-21 0.480 3.947
2013-05-15 0.480 3.937
2013-02-20 0.480 4.143
2012-10-17 0.480 4.352
2012-08-15 0.480 4.258
2012-05-23 0.480 4.453
2012-02-15 0.480 4.123
2011-11-16 0.480 4.225
2011-08-17 0.480 5.235
2011-05-18 0.480 4.792
2011-02-16 0.480 4.587
2010-11-17 0.480 4.861
2010-08-18 0.480 5.599
2010-05-19 0.480 5.750
2010-02-17 0.480 5.697
2009-11-18 0.480 6.948
2009-08-19 0.480 6.869
2009-05-20 0.480 7.274
2009-04-24 0.480 6.199

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of F.N.B's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess F.N.B's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can F.N.B afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. F.N.B has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vince Delie
COMPENSATION $5,961,689
AGE 53
TENURE AS CEO 7.3 years
CEO Bio

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. Beginning in 2008, he was promoted into a number of key executive leadership roles, including Chief Revenue Officer; President of the Banking Group, where he was largely responsible for all revenue-producing lines of business including commercial banking, consumer banking and wealth management; and President and CEO of FNBPA. In 2011, Mr. Delie was additionally named President of F.N.B. Corporation and in 2012, he became CEO and elected to the Board of Directors. Mr. Delie serves as Chairman of Board, Chair of Executive Committee, and as ex officio of the Credit Risk and CRA Committee. Under Mr. Delie’s leadership as CEO, the Company has experienced significant growth, nearly tripling its market capitalization while maintaining strong revenue growth and profitability. Despite the difficult economic environment, this was accomplished in large part through the execution of a unique business model centered on organic growth, strategic acquisitions, and strong risk management. In its largest market, the Pittsburgh metropolitan statistical area, F.N.B. has grown to a number three retail deposit market share position and a leading market share position in Small Business and Middle Market Banking. Today F.N.B. is the second largest bank based in the city of Pittsburgh by total assets. An industry-leading expert on mergers and acquisitions, Mr. Delie has played a significant role in the completion and seamless integration of the last 15 bank acquisitions by F.N.B. Under Mr. Delie’s leadership as CEO, F.N.B. has expanded into five new major metropolitan markets, including the Washington, D.C., MSA, and has completed eight acquisitions. F.N.B. maintains a significant retail deposit market share position in Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh-Durham, and the Piedmont Triad in North Carolina. Mr. Delie has more than 30 years of extensive experience in the financial services industry, which includes executive roles at National City Bank, in addition to capital markets and investment banking positions held at several prominent financial institutions. Mr. Delie earned a degree in Business Administration and Finance from the Pennsylvania State University’s Smeal College of Business. Active in the community and the financial services industry, he currently serves as a member of the Board of Directors of the United Way of Allegheny County, the Allegheny Conference on Community Development and Team Pennsylvania. Mr. Delie is also involved in a number of trade associations including the Pennsylvania, Maryland, and West Virginia Bankers Associations and the American Bankers Association. Mr. Delie has received a number of honors, including the Society of Industrial and Office Realtors® Industrialist of the Year Award in 2016 in recognition of his contributions to economic, cultural and civic development in Western Pennsylvania. He also received the prominent Adam Smith Distinguished Leadership Award in 2015 from Economics Pennsylvania. Under Mr. Delie’s leadership, F.N.B. has been a recipient of Greenwich Associates Excellence in Banking Awards for seven consecutive years, receiving ten national and regional awards in 2016 for client satisfaction in Middle Market and Small Business Banking. Also, under Mr. Delie’s leadership, F.N.B. has been honored as a leading workplace a total of 18 times based on employee feedback, and in 2016 he was individually recognized for leadership in the large company category by the Pittsburgh Post-Gazette Top Workplaces. Mr. Delie has also made multiple appearances on Pennsylvania Business Central’s ranking of the Top 100 People in Central Pennsylvania.

CEO Compensation
  • Vince's compensation has been consistent with company performance over the past year.
  • Vince's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the F.N.B management team in years:

4.3
Average Tenure
55
Average Age
  • The tenure for the F.N.B management team is about average.
Management Team

Vince Delie

TITLE
Chairman
COMPENSATION
$6M
AGE
53
TENURE
7.3 yrs

Vince Calabrese

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
55
TENURE
9.8 yrs

Gary Guerrieri

TITLE
Chief Credit Officer
COMPENSATION
$1M
AGE
58
TENURE
8 yrs

Robert Moorehead

TITLE
Chief Wholesale Banking Officer
COMPENSATION
$1M
AGE
63
TENURE
3.6 yrs

Barry Robinson

TITLE
Chief Consumer Banking Officer
COMPENSATION
$1M
AGE
55
TENURE
3.7 yrs

Jim Dutey

TITLE
Corporate Controller
AGE
44
TENURE
2.1 yrs

Matthew Lazzaro

TITLE
Manager of Investor Relations
TENURE
4.3 yrs

James Orie

TITLE
Chief Legal Officer & Corporate Secretary
COMPENSATION
$277K
AGE
60
TENURE
15.3 yrs

Jennifer Reel

TITLE
Director of Corporate Communications

Tom Whitesel

TITLE
Chief Risk Officer
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the F.N.B board of directors in years:

6.4
Average Tenure
63
Average Age
  • The tenure for the F.N.B board of directors is about average.
Board of Directors

Vince Delie

TITLE
Chairman
COMPENSATION
$6M
AGE
53
TENURE
1.3 yrs

Bill Campbell

TITLE
Lead Director
COMPENSATION
$164K
AGE
79
TENURE
11.3 yrs

William Strimbu

TITLE
Director
COMPENSATION
$139K
AGE
57
TENURE
23.9 yrs

David Malone

TITLE
Director
COMPENSATION
$144K
AGE
63
TENURE
14.2 yrs

Jim Chiafullo

TITLE
Director
COMPENSATION
$135K
AGE
60
TENURE
6.5 yrs

Heidi Nicholas

TITLE
Director
COMPENSATION
$149K
AGE
63
TENURE
4.3 yrs

Frank Mencini

TITLE
Director
COMPENSATION
$153K
AGE
53
TENURE
3.3 yrs

Robert Hormell

TITLE
Director
COMPENSATION
$128K
AGE
70
TENURE
4.3 yrs

Steve Gurgovits

TITLE
Director
COMPENSATION
$215K
AGE
74
TENURE
38.3 yrs

John Stanik

TITLE
Director
COMPENSATION
$128K
AGE
64
TENURE
6.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by F.N.B insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
08. Feb 19 Sell William Campbell Individual 07. Feb 19 07. Feb 19 -2,900 €10.52 €-30,519
06. Feb 19 Buy Mary Dively Individual 05. Feb 19 05. Feb 19 3,000 €10.36 €31,071
31. Jan 19 Buy Pamela Bena Individual 29. Jan 19 29. Jan 19 1,000 €10.34 €10,336
14. Nov 18 Buy Mary Dively Individual 12. Nov 18 12. Nov 18 3,000 €10.88 €32,655
05. Nov 18 Buy Barry Robinson Individual 05. Nov 18 05. Nov 18 2,500 €10.60 €26,506
01. Nov 18 Buy Pamela Bena Individual 30. Oct 18 30. Oct 18 1,000 €10.29 €10,285
30. Oct 18 Buy James Dutey Individual 29. Oct 18 29. Oct 18 2,500 €10.08 €25,205
30. Oct 18 Buy James Chiafullo Individual 26. Oct 18 26. Oct 18 5,000 €9.87 €49,328
29. Oct 18 Buy Vincent Calabrese Individual 26. Oct 18 26. Oct 18 5,000 €9.85 €49,240
29. Oct 18 Buy Barry Robinson Individual 26. Oct 18 26. Oct 18 2,500 €9.85 €24,620
29. Oct 18 Buy Robert Moorehead Individual 26. Oct 18 26. Oct 18 5,000 €9.85 €49,240
29. Oct 18 Buy Gary Guerrieri Individual 29. Oct 18 29. Oct 18 1,000 €10.09 €10,090
29. Oct 18 Buy Vincent Delie Individual 26. Oct 18 26. Oct 18 6,500 €9.85 €64,012
29. Oct 18 Buy Frank Mencini Individual 26. Oct 18 26. Oct 18 2,000 €9.89 €19,779
17. Aug 18 Buy Frank Mencini Individual 13. Aug 18 13. Aug 18 2,000 €11.45 €22,904
01. Aug 18 Buy Pamela Bena Individual 27. Jul 18 27. Jul 18 1,500 €11.17 €16,761
18. May 18 Buy Pamela Bena Individual 16. May 18 16. May 18 3,700 €11.47 €42,445
14. May 18 Buy Mary Dively Individual 11. May 18 11. May 18 3,000 €11.22 €33,674
X
Management checks
We assess F.N.B's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. F.N.B has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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 through three segments: Community Banking, Wealth Management, and Insurance. It offers commercial banking solutions, including corporate and small business banking, investment real estate financing, business credit, capital market, and lease financing services. The company also provides consumer banking products and services, such as deposit products, mortgage and consumer lending services, and mobile and online banking services; and wealth management services comprising fiduciary and brokerage, asset management, private banking, and insurance services, as well as mezzanine financing options for small- to medium-sized businesses. As of December 31, 2018, it operated 396 community banking offices in Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, and South Carolina. F.N.B. Corporation was founded in 1864 and is headquartered in Pittsburgh, Pennsylvania.

Details
Name: F.N.B. Corporation
FN2
Exchange: DB
Founded: 1864
$3,210,436,366
323,810,141
Website: http://www.fnb-online.com
Address: F.N.B. Corporation
One North Shore Center,
12 Federal Street,
Pittsburgh,
Pennsylvania, 15212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FNB Common Stock New York Stock Exchange US USD 02. Sep 1986
DB FN2 Common Stock Deutsche Boerse AG DE EUR 02. Sep 1986
NYSE FNB.PRE DEP SHS 1/40 PFD New York Stock Exchange US USD 06. Nov 2013
Number of employees
Current staff
Staff numbers
4,150
F.N.B employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 22:13
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.