FNB - F.N.B. Seeing Signs Of Improving Loan Demand But Execution Still Needs To Improve

• F.N.B. managed to post a decent beat relative to Street expectations for pre-provision profits, and the improved loan growth and conservative-looking guidance were likewise welcome.
• The announcement of the Howard Bancorp acquisition has led to questions on the premium paid, the real need for the deal, and whether management can hit their post-deal goals.
• Mid-single-digit growth can support a double-digit long-term annualized return, but F.N.B.'s business is still heavily reliant on mature markets where growth could be more challenging absent ongoing share gains.

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