What Happened?
Shares of regional banking company F.N.B. Corporation (NYSE:FNB) jumped 4.7% in the pre-market session after the company reported better-than-expected second-quarter financial results.
The financial services company announced record quarterly revenue of $438 million and earnings of $0.36 per diluted common share. These figures surpassed analyst expectations, which had estimated revenue of $424.37 million and earnings per share of $0.34. The strong performance was driven by a 6.5% linked-quarter increase in revenue, fueled by growth in both net interest income and non-interest income. Net interest income reached a record $347.2 million, a 9.9% increase from the year-ago quarter. The bank also saw solid balance sheet growth, with average loans and deposits increasing year-over-year by 3.7% and 7.3%, respectively. F.N.B. Corporation's capital levels also strengthened to all-time highs.
After the initial pop the shares cooled down to $16.03, up 0.8% from previous close.
Is now the time to buy F.N.B. Corporation? Access our full analysis report here, it’s free.
What Is The Market Telling Us
F.N.B. Corporation’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
F.N.B. Corporation is up 10.2% since the beginning of the year, and at $16.03 per share, it is trading close to its 52-week high of $17.29 from November 2024. Investors who bought $1,000 worth of F.N.B. Corporation’s shares 5 years ago would now be looking at an investment worth $2,208.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.