Why F.N.B. Stock Took A Dive After-Hours
Portfolio Pulse from Ryan Gustafson
F.N.B. Corporation (NYSE:FNB) saw its stock price fall in after-hours trading following the release of its Q4 financial results. Despite beating earnings per share estimates with $0.38 compared to the expected $0.35, the company's revenue of $337.10 million fell short of the $403.83 million analyst forecast. Year-over-year, earnings decreased by 13.64% from $0.44 per share. However, total loans and leases grew by 6.8% to $2.1 billion. The company highlighted a record full-year operating earnings, record revenue, and a significant increase in tangible book value per share. F.N.B. also mentioned balance sheet actions aimed at enhancing future profitability and capital positioning as they move into 2024. After the report, FNB shares dropped by 6.09% to $12.25.
January 18, 2024 | 10:40 pm
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NEGATIVE IMPACT
F.N.B. Corporation's stock fell after reporting Q4 earnings, with revenues missing expectations despite an EPS beat and year-over-year loan growth.
The stock price of F.N.B. Corporation decreased due to the revenue miss in the Q4 report, which is a significant factor for investors. Although the EPS exceeded expectations and loan growth was positive, the immediate negative reaction in after-hours trading indicates that the market is currently more concerned with the revenue shortfall. The company's proactive balance sheet management and positive outlook for 2024 may mitigate long-term concerns, but short-term impact is negative.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100