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PNC Financial Services

PNC owns 22% of BlackRock, the largest asset management firm in the world by assets under management. This ownership interest had a market value of $17.9 billion as of December 31, 2017.

BlackRock

Citizens National Bank was founded on July 11, 1890 in Laurel, Maryland as Citizens National Bank of Laurel.The bank's founder and first president was Charles H. Stanley. On April 1, 1965, it was renamed to Citizens National Bank after merging with The Central Bank of Howard County. On September 15, 2007, Citizens National was acquired by PNC Bank, National Association.

Citizens National Bank

The PNC Financial Services Group, Inc. is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers. The Corporate and Institutional segment covers the lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government, and not-for-profit entities. The Asset Management Group segment includes personal wealth management for high net worth and ultra-high net worth clients and institutional asset management. The company was founded in 1983 and is headquartered in Pittsburgh, PA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

PNC Financial Services posts solid Q4 results amid economic uncertainties

PNC Financial Services delivered strong financial results in Q4 2022, driven by solid loan growth and capital management initiatives.
While facing challenges related to potential economic downturn and expense management, the company remains well-positioned with a focus on customer relationships.
Opportunities for growth lie in expanding loan and revenue streams, optimizing asset management strategies, and enhancing operational efficiency.
Overall, PNC's performance reflects resilience amidst economic uncertainties, with a strategic focus on capital strength and customer-centric operations.

PNC Financial Services reports robust Q1 earnings amidst industry shifts

PNC Financial Services Group's Q1 performance reflects strength in earnings, balance sheet stability, and strategic execution.
While facing challenges such as softened loan demand and disruptions in certain business segments, PNC remains proactive in risk management.
Opportunities lie in leveraging market changes, growing market share, and maintaining regulatory compliance for sustained success.
Investors can find confidence in PNC's solid credit quality, capital management, and focus on long-term growth strategies.

PNC Financial Services reports solid Q2 earnings amidst M&A challenges

PNC Financial Services delivered a strong Q2 performance with a focus on expense control and credit quality. Challenges include declining net interest income and hurdles to M&A expansion. Opportunities exist in noninterest income growth and prudent expense management.

PNC Financial Services reports robust Q3 results amid economic uncertainties

PNC Financial Services Group's Q3 2023 performance showcased strong financial results, robust credit quality, and strategic expense management amidst economic uncertainties.
While facing challenges such as declining loan balances and net interest margin, the company remains focused on capital strengthening, customer-centric initiatives, and operational efficiency.
Opportunities in stable fee income, technological advancements, and market expansion present avenues for growth and profitability in the evolving financial landscape.

PNC Financial Services reports solid Q4 performance and eyes growth opportunities

PNC's Q4 performance was strong with a focus on expense control.
Challenges include credit charge-offs and declining revenue expectations.
Opportunities lie in commercial loan growth and fee income expansion.
Overall, PNC is well-positioned for growth despite regulatory uncertainties.

PNC Financial Services reports solid Q1 earnings amidst industry consolidation concerns

PNC's Q1 performance reflects financial stability and strategic investments, supported by strong liquidity and capital reserves. While challenges in commercial real estate and industry consolidation loom, opportunities in fee-based businesses and asset repositioning offer growth potential.

PNC Financial Services reports robust Q2 earnings and strategic growth

PNC Financial Services Group excelled in Q2 2024, balancing growth and capital management effectively.
While facing expected challenges in the credit environment, the company capitalized on opportunities for future growth.
Strengthened financial metrics and shareholder returns position PNC well for continued success.
Strategic initiatives like the new credit card and capital deployment enhance value for stakeholders.

PNC Financial Services reports robust Q3 earnings and eyes organic growth opportunities

PNC Financial Services Group's Q3 2024 performance reflects strength in earnings, operating leverage, and balance sheet metrics.
While facing challenges in loan growth and deposit pricing, the company remains optimistic about organic growth opportunities.
Strategic focus on credit quality, capital strength, and future growth investments positions PNC well for the medium term.
Management's cautious approach to loan growth and market conditions guide the company's strategic decisions for sustainable growth.

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The PNC Financial Services Group, Inc (PNC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Why The PNC Financial Services Group, Inc (PNC) Could Beat Earnings Estimates Again

Should investors be excited or worried when a stock crosses above the 200-day simple moving average?

The PNC Financial Services Group, Inc (PNC) Just Overtook the 200-Day Moving Average

Should investors be excited or worried when a stock crosses above the 50-Day simple moving average?

The PNC Financial Services Group, Inc (PNC) Just Overtook the 50-Day Moving Average

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The PNC Financial Services Group has seen a few busy years on the corporate front. Results are a bit mixed, nothing too great, nothing too bad either.

PNC Financial: Banking On It

PITTSBURGH , Dec. 7, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) expects to issue financial results for the fourth quarter and full year 2022, at approximately 6:30 a.m. (ET), Wednesday, Jan. 18, 2023, as previously announced.

THE PNC FINANCIAL SERVICES GROUP ANNOUNCES FOURTH QUARTER AND FULL YEAR EARNINGS CONFERENCE CALL DETAILS

Commercial loan demand remains healthy, which should support healthy net interest income growth at PNC, but deposit outflows and costs are an ongoing risk. PNC is built and run to be an "all-weather" bank; if 2023 sees weaker macroeconomic conditions than expected, the bank could outperform, but vice versa if 2023 proves stronger.

PNC Financial Has A Better Mix Of Drivers In A Sector That's Still Off Its Highs

PITTSBURGH , Nov. 22, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Chairman, President and Chief Executive Officer William S. Demchak and Executive Vice President and Chief Financial Officer Robert Q.

PNC EXECUTIVES TO SPEAK AT GOLDMAN SACHS CONFERENCE

LONDON--( BUSINESS WIRE )--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Bregal Unternehmerkapital Funds (Bregal) in connection with the combination of four portfolio companies, GUS Group (GUS), iptor, SHD, and PDV, to form GENII Software Group (GENII). The transaction was led by the Harris Williams Technology Group, including Thierry Monjauze, Mathew Tsui, Christopher Duerolf, and Ruben Pinheiro.

Harris Williams Advises Bregal in Connection with the Combination of Four Portfolio Companies to Form GENII Software Group

For the 39th year, PNC calculated the cost of Christmas The year-over-year increase in 2022 is the third highest on record Inflation for services far outstripped goods in this year's index PITTSBURGH , Nov. 17, 2022 /PRNewswire/ -- True love costs a lot more this year, as record-high inflation drives PNC's 39th annual Christmas Price Index® (PNC CPI) up 10.5%, the third highest year-over-year increase in the index's history. The PNC CPI, a light-hearted take on the Bureau of Labor Statistics' (BLS) Consumer Price Index, measures the average change in prices consumers should expect to pay for True Love's gifts, outlined in the classic holiday carol, "The Twelve Days of Christmas.

TRUE LOVE FEELS STICKER SHOCK WITH A 10.5 PERCENT HIKE IN PNC CHRISTMAS PRICE INDEX

RICHMOND, Va.--( BUSINESS WIRE )--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised United States Infrastructure Corporation (USIC), a portfolio company of Partners Group, acting on behalf of its clients, on its sale of a 50% stake to Kohlberg & Company (Kohlberg). Partners Group will retain a 50% co-lead interest. Kohlberg was joined in this investment by a group of new partners that includes funds managed by Neuberger Berman. USIC is a leading provider of outsourced "utility locate" services, which involve locating, identifying, and marking sub-surface utility infrastructure such as pipes, cables, and fiber. The transaction was led by the Harris Williams Energy, Power & Infrastructure (EPI) Group and Business Services Group, including Bob Baltimore, Drew Spitzer, Matt White, Taylor Morris, Bill Greven, Thomas Saunders, Phil Hart and John Holleman.

Harris Williams Advises United States Infrastructure Corporation on its Sale of a 50% Stake to Kohlberg & Company

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is acting as lead sell-side advisor to A2MAC1, a portfolio company of Five Arrows Principal Investments (Five Arrows) and Keensight Capital, on its pending sale to Providence Equity Partners (Providence).

Harris Williams Acts as Lead Sell-Side Advisor on A2MAC1's Pending Sale to Providence Equity Partners

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Speakers from across the country and region share what's in store for the year ahead at the 59th annual ASU/PNC Bank Economic Forecast Luncheon TEMPE, Ariz. , Nov. 2, 2022 /PRNewswire/ -- The 2023 economic outlook is perhaps the most complex and challenging exercise in economic forecasting in decades.

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PITTSBURGH , Oct. 20, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Executive Vice President and Chief Financial Officer Robert Q. Reilly and Executive Vice President and Chief Credit Officer Michael J.

PNC EXECUTIVES TO SPEAK AT BANCANALYSTS ASSOCIATION OF BOSTON CONFERENCE

The PNC Financial Services Group, Inc. (NYSE:PNC ) Q3 2022 Results Conference Call October 14, 2022 11:00 AM ET Company Participants Bryan Gill - SVP, Director-IR Bill Demchak - Chairman, President & CEO Rob Reilly - EVP, CFO Conference Call Participants John Pancari - Evercore Scott Siefers - Piper Sandler Gerard Cassidy - RBC Ken Usdin - Jefferies Mike Mayo - Wells Fargo Securities Bill Carcache - Wolfe Research Michael Rose - Raymond James Nathan Stein - Deutsche Bank Bryan Gill Well, good morning, and welcome to today's conference call for the PNC Financial Services Group. Participating on this call are PNC's Chairman, President and CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.

The PNC Financial Services Group, Inc. (PNC) Q3 2022 Earnings Call Transcript

Higher net interest income and loan growth, along with declining expenses, aid PNC Financials' (PNC) Q3 results. A fall in fee income and deposits were major headwinds for the company.

PNC Financial (PNC) Q3 Earnings & Revenues Beat Estimates

The PNC Financial Services Group, Inc (PNC) delivered earnings and revenue surprises of 3.28% and 3.04%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

The PNC Financial Services Group, Inc (PNC) Beats Q3 Earnings and Revenue Estimates

3% avg. loan growth; 32 basis point NIM expansion; 7% positive operating leverage PITTSBURGH , Oct. 14, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 3Q22 2Q22 3Q21 Third Quarter Highlights Financial Results Comparisons reflect 3Q22 vs. 2Q22 Revenue $    5,549 $    5,116 $    5,197 ▪  Operating leverage of 7%, reflecting revenue growth of 8%and expense growth of 1% ▪  Net interest income grew 14% –  NIM increased 32 basis points ▪  Noninterest income increased modestly ▪  Efficiency ratio improved to 59% ▪  PPNR increased 21% ▪  Average loans grew 3%, driven bycommercial and consumer loangrowth ▪  Average deposits decreased 2% –   Spot deposits declined 0.6% ▪  Provision for credit losses of $241million; allowance for credit losses to total loans of 1.67% ▪  Net loan charge-offs were $119million or 0.15% annualized toaverage loans ▪  Tangible book value decreased 6%, due to the change in AOCI ▪  PNC returned $1.7 billion ofcapital to shareholders Noninterest expense 3,280 3,244 3,587 Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,269 1,872 1,610 Integration costs 1 14 243 PPNR excluding integration costs (non-GAAP) 2,270 1,886 1,853 Provision for (recapture of) credit losses 241 36 (203) Net income 1,640 1,496 1,490 Per Common Share Diluted earnings - as reported $      3.78 $      3.39 $      3.30 Impact from integration costs (non-GAAP) — 0.03 0.45 Diluted earnings - as adjusted (non-GAAP) 3.78 3.42 3.75 Average diluted common shares outstanding 410 414 426 Book value 97.59 101.39 121.16 Tangible book value (non-GAAP) 69.98 74.39 94.82 Balance Sheet & Credit Quality Average loans     In billions $    313.0 $    304.8 $    291.3 Average deposits    In billions 439.2 446.5 454.4 Accumulated other comprehensive income (loss) (AOCI)    In billions (10.5) (8.4) 1.1 Net loan charge-offs 119 83 81 Allowance for credit losses to total loans 1.67 % 1.65 % 2.07 % Selected Ratios Return on average common shareholders' equity 14.97 % 13.52 % 10.95 % Return on average assets 1.19 1.10 1.06 Net interest margin (NIM) (non-GAAP) 2.82 2.50 2.27 Noninterest income to total revenue 37 40 45 Efficiency 59 63 69 Common equity Tier 1 capital ratio 9.3 9.6 10.3 Diluted earnings as adjusted is a non-GAAP measure calculated by excluding post-tax integration costs for BBVAUSA.

News for PNC Financial Services Stock (PNC)