Headquartered in Pittsburgh, Pennsylvania, F.N.B. Corporation (FNB) is a diversified financial holding company for First National Bank of Pennsylvania. FNB provides a wide range of financial services across the Atlantic seaboard through its 350+ bank branches. FNB has four main reported business segments: (1) Community Banking, (2) Wealth Management, (3) Insurance, and (4) Consumer Finance. With over $37 billion in assets and a leading deposit market share position in multiple MSAs located throughout its six state footprint, FNB is a force to be reckoned with.
While FNB is currently trading at a discount to peers, due to lower capital levels versus peers, I would look toward its sound credit policy and sustainable 7%+ dividend yield for reasons to invest today. FNB has a near sterling credit track record that I think should lead to greater earnings stability through this recession and could regain some of the multiple degradation