Founded in 1864, F.N.B. Corporation (FNB) provides a full range of commercial banking, consumer banking, wealth management, and insurance solutions.
For Q3 2019, FNB reported mixed results. The stock closed before the announcement at $12.02 and rose by 1.0% the day following the announcement before rising another c. 2% to the price of $12.42 (29/10). The bank felt some serious pressure on their total revenues, which only grew by 0.1% yoy (0.3% in Q2), and even led management to reduce guidance. So, why such a positive reaction in their share price? The bank’s