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F.N.B. Corp. surpasses EPS estimates but misses on Q4 revenue

EditorLina Guerrero
Published 01/18/2024, 07:52 PM
© Reuters.

PITTSBURGH - F.N.B. Corp. (NYSE:FNB) announced its fourth-quarter earnings, reporting a profit of $50.7 million and an adjusted earnings per share (EPS) of $0.38, which exceeded the Zacks consensus estimate by $0.03. However, the company fell short of revenue expectations, with figures reaching $337.1 million against projections of $399.7 million.

Despite the revenue miss, F.N.B. Corp. highlighted some positive financial metrics for the quarter. The bank's Efficiency Ratio, a measure of a bank's overhead as a percentage of its revenue, was noted as favorable, indicating effective cost management.

Additionally, the Net Interest Margin, which gauges the difference between the interest income generated by banks and the amount of interest paid out to their lenders, was in line with analyst consensus.

For the full year, F.N.B. Corp.'s annual revenue was reported at $1.57 billion, marking a decrease from the previous year's figures. The bank currently holds a Zacks Rank #3 (Hold), reflecting a neutral position recommended by Zacks investment research.

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