F.N.B (NYSE:FNB) Full Year 2024 Results
Key Financial Results
- Revenue: US$1.52b (up 1.1% from FY 2023).
- Net income: US$459.0m (down 3.8% from FY 2023).
- Profit margin: 30% (down from 32% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: US$1.27 (down from US$1.32 in FY 2023).
FNB Banking Performance Indicators
- Net interest margin (NIM): 3.09% (down from 3.35% in FY 2023).
- Cost-to-income ratio: 55.6% (up from 51.2% in FY 2023).
- Non-performing loans: 0.47% (up from 0.33% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
F.N.B Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 2.1%.
The primary driver behind last 12 months revenue was the Community Banking segment contributing a total revenue of US$1.45b (96% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$777.0m (74% of total expenses). Explore how FNB's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 1.4% from a week ago.
Valuation
Following the latest earnings results, F.N.B may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.
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About NYSE:FNB
F.N.B
A bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States.
Very undervalued with flawless balance sheet and pays a dividend.
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