F.N.B. Corporation (FNB) PT Raised to $17 at Piper Sandler

Piper Sandler analyst Frank Schiraldi raised the price target on F.N.B. Corporation (NYSE: FNB) to $17.00 (from $15.00) while maintaining a Overweight rating.

The analyst commented, "FNB reported 2Q24 EPS of $0.34, which we peg as core. The result missed us and consensus by a penny, driven by a penny lower NII but in-line across the rest of the board. As far as full year outlook, mgmt revised NII 3% lower and even with a 5% increase in fee guide, the end result was a PPNR target that came in ~3% below both our previous modeling and consensus heading into earnings. Elsewhere, growth was strong in the quarter with loan balances up 3.6%, funded in part by borrowings, while credit results remained solid."

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