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PITTSBURGH - F.N.B. Corporation (NYSE: FNB), a diversified financial services company with a market capitalization of $4.3 billion and a solid dividend yield of 4.1%, announced today the introduction of an automated direct deposit switch feature, aimed at simplifying the bank onboarding process for customers. This new service is integrated into the account opening procedure of FNB’s digital banking platform. According to InvestingPro analysis, FNB currently shows a FAIR financial health rating, with particularly strong scores in relative value metrics.
The Direct Deposit Switch service allows customers to instantly relocate their payroll direct deposits during the account setup with just a few steps. This enhancement is part of FNB’s broader digital strategy to facilitate client acquisition and engagement. Later in 2025, the company plans to expand its digital offerings to include the capability for clients to transfer their recurring debit transactions to FNB accounts. The company’s strategic initiatives come as it maintains its impressive 51-year streak of consecutive dividend payments, as highlighted in InvestingPro’s comprehensive analysis report.
FNB’s collaboration with fintech firm Atomic is a strategic move following FNB’s investment in Atomic’s recent fundraising initiative. Vincent J. Delie, Jr., Chairman, President, and CEO of F.N.B. Corporation and First National Bank, highlighted the importance of fintech partnerships and proprietary technology in FNB’s growth strategy.
The bank’s proprietary eStore® platform is central to FNB’s customer onboarding experience, offering a suite of banking solutions and a universal application process that can accommodate up to 30 different products simultaneously. With the addition of the Direct Deposit Switch service, customers can now complete the process of finding, opening, and setting up FNB accounts in minutes using online or mobile banking.
Delie noted that FNB’s technology-driven approach has significantly increased consumer deposit and loan applications since the launch of the eStore Common app. The direct deposit switch feature is available for new or existing FNB checking, savings, or money market accounts. Customers can initiate the service through their online or mobile banking accounts and receive confirmation upon successful transfer of their payroll direct deposit.
FNB Corporation, headquartered in Pittsburgh, Pennsylvania, operates across seven states and the District of Columbia with total assets nearing $49 billion. The company’s stock is traded on the New York Stock Exchange and is included in the S&P MidCap 400 Index. This announcement is based on a press release statement from F.N.B. Corporation.
In other recent news, F.N.B. Corporation reported fourth-quarter earnings with adjusted earnings per share of $0.38, surpassing the consensus estimate of $0.33. However, the company’s revenue fell short of Wall Street’s expectations, coming in at $373.14 million compared to the projected $408.7 million. In a strategic move to enhance its services, F.N.B. announced its intention to acquire Raptor Partners LLC, an investment banking firm, to boost its capital markets capabilities. This acquisition is expected to close in the second quarter of 2025, subject to customary closing conditions.
Additionally, F.N.B. Corporation participated in a $10 million strategic investment in Atomic, a company specializing in financial connectivity, alongside Capital One Ventures and Citi Ventures. This investment aims to support Atomic’s expansion in financial solutions. Raymond James maintained its Outperform rating on F.N.B. Corporation with a target price of $19, citing an improved financial outlook despite mixed operational factors. The firm noted the company’s net interest income guidance for 2025 is approximately $15 million above previous estimates.
F.N.B. Corporation’s net interest income for the fourth quarter was $322.2 million, slightly down from the previous year, with a net interest margin of 3.04%. The company also reported a 5% year-over-year growth in total loans and a 6.9% increase in deposits. Despite the revenue miss, F.N.B. maintained its quarterly dividend of $0.12 per share, highlighting its commitment to returning value to shareholders.
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