NYSE:FNB

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 Analysis

Flawless balance sheet, undervalued 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: FNB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-8.3%

FNB

-7.1%

US Banks

-2.0%

US Market


1 Year Return

-40.5%

FNB

-32.9%

US Banks

-15.1%

US Market

Return vs Industry: FNB underperformed the US Banks industry which returned -33.7% over the past year.

Return vs Market: FNB underperformed the US Market which returned -14.9% over the past year.


Shareholder returns

FNBIndustryMarket
7 Day-8.3%-7.1%-2.0%
30 Day-32.0%-30.6%-19.7%
90 Day-46.5%-42.5%-23.2%
1 Year-37.8%-40.5%-30.9%-32.9%-13.4%-15.1%
3 Year-47.1%-52.9%-21.7%-27.5%10.9%3.7%
5 Year-38.0%-48.6%3.5%-8.4%28.4%14.4%

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

Valuation

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

45.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FNB ($6.75) is trading below our estimate of fair value ($12.29)

Significantly Below Fair Value: FNB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FNB is good value based on its PE Ratio (5.8x) compared to the Banks industry average (8.6x).

PE vs Market: FNB is good value based on its PE Ratio (5.8x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: FNB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FNB is good value based on its PB Ratio (0.5x) compared to the US 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?

-4.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FNB's earnings are forecast to decline over the next 3 years (-4.4% per year).

Earnings vs Market: FNB's earnings are forecast to decline over the next 3 years (-4.4% per year).

High Growth Earnings: FNB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FNB's revenue (3.5% per year) is forecast to grow slower than the US market (7.1% per year).

High Growth Revenue: FNB's revenue (3.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FNB's Return on Equity is forecast to be low in 3 years time (6.9%).


Next Steps

Past Performance

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

25.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FNB has high quality earnings.

Growing Profit Margin: FNB's current net profit margins (32.4%) are higher than last year (31.7%).


Past Earnings Growth Analysis

Earnings Trend: FNB's earnings have grown significantly by 25.2% per year over the past 5 years.

Accelerating Growth: FNB's earnings growth over the past year (3.8%) is below its 5-year average (25.2% per year).

Earnings vs Industry: FNB earnings growth over the past year (3.8%) underperformed the Banks industry 10.9%.


Return on Equity

High ROE: FNB's Return on Equity (7.9%) is considered low.


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: FNB has a low level of unsold assets or inventory.

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


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: FNB has an appropriate level of bad loans (0.44%)


Next Steps

Dividend

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

7.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FNB's dividend (7.11%) is higher than the bottom 25% of dividend payers in the US market (2.04%).

High Dividend: FNB's dividend (7.11%) is in the top 25% of dividend payers in the US market (5.7%)


Stability and Growth of Payments

Stable Dividend: FNB's dividends per share have been stable in the past 10 years.

Growing Dividend: FNB's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.2%), FNB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FNB's dividends in 3 years are forecast to be well covered by earnings (45.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average management tenure


CEO

Vince Delie (54yo)

8.25s

Tenure

US$6,434,071

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 ($USD6.43M) is above average for companies of similar size in the US market ($USD4.70M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Vincent Delie
Chairman8.25yrsUS$6.43m0.16% $3.5m
Vincent Calabrese
Chief Financial Officer10.83yrsUS$2.31m0.067% $1.5m
Gary Guerrieri
Chief Credit Officer9yrsUS$1.66m0.029% $629.3k
Robert Moorehead
Chief Wholesale Banking Officer4.58yrsUS$1.45m0.015% $330.0k
Barry Robinson
Chief Consumer Banking Officer4.67yrsUS$1.24m0.022% $471.4k
Robert DeLisio
Chief Investment Officer1.5yrsno datano data
James Dutey
Corporate Controller3.08yrsno data0.0020% $43.4k
Matthew Lazzaro
Manager of Investor Relations5.25yrsno datano data
James Orie
Chief Legal Officer & Corporate Secretary16.25yrsUS$277.03k0.010% $219.8k
Barbara Cottrell
Director of Corporate Complianceno datano datano data

5.3yrs

Average Tenure

56yo

Average Age

Experienced Management: FNB's management team is seasoned and experienced (5.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Vincent Delie
Chairman8.25yrsUS$6.43m0.16% $3.5m
Robert Hormell
Independent Director5.25yrsUS$127.23k0.024% $524.6k
William Campbell
Independent Lead Director12.25yrsUS$171.23k0.028% $615.5k
William Strimbu
Independent Director24.92yrsUS$154.10k0.034% $749.5k
James Chiafullo
Independent Director7.5yrsUS$136.23k0.025% $556.6k
John Stanik
Independent Director7.25yrsUS$134.73k0.015% $328.7k
David Malone
Independent Director15.17yrsUS$144.73k0.029% $624.3k
David Motley
Independent Director6.67yrsUS$137.23k0.011% $245.2k
Heidi Nicholas
Independent Director5.25yrsUS$158.73k0.045% $989.5k
Frank Mencini
Independent Director4.25yrsUS$158.73k0.014% $307.2k

7.0yrs

Average Tenure

62.5yo

Average Age

Experienced Board: FNB's board of directors are considered experienced (7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: F.N.B. Corporation
  • Ticker: FNB
  • Exchange: NYSE
  • Founded: 1864
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.190b
  • Shares outstanding: 324.40m
  • 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 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 July 23, 2019, it operated 380 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 00:25
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.