FNB set to acquire Raptor Partners to boost services

PITTSBURGH - F.N.B. Corporation (NYSE: FNB), a diversified financial services company currently trading at $12.18 with a market capitalization of $4.4 billion, has announced its intention to acquire Raptor Partners LLC, an investment banking firm specializing in mergers and acquisitions, corporate finance, and private capital raising. This strategic move is aimed at enhancing FNB's capital markets capabilities and growing its non-interest income. According to InvestingPro data, FNB has demonstrated consistent profitability over the last twelve months, though the stock has experienced a 20.7% decline year-to-date.

The Pittsburgh-based Raptor Partners brings to FNB a proven track record in financial advisory services, with a history of completing transactions totaling nearly $40 billion across various industries. Vincent J. Delie, Jr., Chairman, President, and Chief Executive Officer of F.N.B. Corporation, highlighted the acquisition as a step towards providing comprehensive advisory services throughout a client's business life cycle, citing a 137% increase in revenue over the past decade within their Capital Markets division. Notable for investors, InvestingPro analysis reveals FNB has maintained dividend payments for 51 consecutive years, with a current dividend yield of 4.13%.

Craig Wolfanger, Founder and President of Raptor Partners, expressed enthusiasm for the partnership, anticipating the opportunity to extend financial advisory services to both new and existing clients. Upon the transaction's expected closure in the second quarter of 2025, Wolfanger will join FNB as Managing Director and Head of Investment Banking.

The acquisition is subject to customary closing conditions, and while FNB is optimistic about the expected strategic and financial benefits, they caution that forward-looking statements involve risks and uncertainties. These statements reflect expectations as of the date of the press release and are subject to change.

F.N.B. Corporation, with assets of $49 billion, operates across seven states and the District of Columbia, offering a range of commercial banking, consumer banking, and wealth management solutions. The company's common stock is traded on the New York Stock Exchange and is included in Standard & Poor's MidCap 400 Index.

This expansion into investment banking is part of FNB's broader strategy to diversify its services and enhance its role as a trusted advisor in the financial sector. The information in this article is based on a press release statement.

In other recent news, F.N.B. Corporation reported its fourth-quarter earnings with adjusted earnings per share of $0.38, surpassing analyst expectations of $0.33. However, the company faced a setback as its revenue of $373.14 million fell short of Wall Street's estimate of $408.7 million. The net interest income for the quarter amounted to $322.2 million, slightly down from the $324 million reported in the same period last year. Despite this, F.N.B. Corporation experienced growth in total loans and deposits, with loans increasing by 5% year-over-year to $33.9 billion and deposits rising by 6.9% to $37.1 billion.

In other developments, F.N.B. Corporation has secured a strategic investment in Atomic, which will facilitate the integration of direct deposit and recurring transaction switching capabilities into its services by 2025. This collaboration aims to enhance F.N.B.'s offerings and provide more personalized financial services. Additionally, Raymond James maintained its Outperform rating on F.N.B. Corporation, with a price target of $19.00, citing improved net interest income guidance and stable credit quality. The analyst from Raymond James noted that the 2025 net interest income guidance is approximately $15 million above previous estimates due to balance sheet restructuring. Despite some operational challenges, the analyst's outlook remains positive on the company's future performance prospects.

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