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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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PNC Financial surpassed analyst expectations in Q2, but there was more pressure than expected on net interest margin and PNC will likely have to pay more to fund loan growth. Loan growth remains a key driver, with PNC outperforming the banking sector, and particularly with its C&I lending franchise.

PNC Financial Benefiting From A Hot Main Street And Valuation Is Better

The PNC Financial Services Group, Inc. (NYSE:PNC ) Q2 2022 Results Conference Call July 15, 2022 8:00 AM ET Company Participants Bryan Gill - SVP, Director-IR Bill Demchak - Chairman, President & CEO Rob Reilly - EVP, CFO Conference Call Participants Gerard Cassidy - RBC Bill Carcache - Wolfe Research Ken Usdin - Jefferies Erika Najarian - UBS Mike Mayo - Wells Fargo Securities John Pancari - Evercore ISI Bryan Gill 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 Roley, Executive Vice President and CFO.

The PNC Financial Services Group, Inc. (PNC) CEO Bill Demchak on Q2 2022 Results - Earnings Call Transcript

One of the latest bank names  to report earnings this week is PNC Financial Services Inc (NYSE:PNC).

Bank Name Reports Earnings Win, Revenue Miss

Higher net interest income and loan growth support PNC Financial's (PNC) Q2 results against headwinds like higher expenses and a declining deposit.

PNC Financial (PNC) Q2 Earnings & Revenues Beat Estimates

The PNC Financial Services Group, Inc (PNC) delivered earnings and revenue surprises of 9.97% and 0.27%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

The PNC Financial Services Group, Inc (PNC) Q2 Earnings and Revenues Beat Estimates

5% loan growth; 22 basis point NIM expansion; 7% positive operating leverage PITTSBURGH , July 15, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 2Q22 1Q22 2Q21 Second Quarter Highlights Comparisons reflect 2Q22 vs. 1Q22 Financial Results Revenue $    5,116 $    4,692 $    4,667 ▪  Operating leverage of 7%, reflecting revenue growth of 9% and expense growth of 2%   ▪  Net interest and noninterest income each grew 9%   ▪  NIM increased 22 basis points   ▪  PPNR increased 23%   ▪  Average loans grew 5%, driven by commercial loan growth   ▪  Average deposits decreased 2%   ▪  Provision for credit losses of $36 million   ▪  Net loan charge-offs were $83 million or 0.11% of annualized average loans   ▪  Tangible book value decreased 7%, due to the change in AOCI –  Held to maturity securities were 60% of investment securities at June 30   ▪  PNC returned $1.4 billion of capital to shareholders Noninterest expense 3,244 3,172 3,050 Pretax, pre-provision earnings (PPNR) (non-GAAP) 1,872 1,520 1,617 Integration costs 14 31 111 PPNR excluding integration costs (non-GAAP) 1,886 1,551 1,728 Provision for (recapture of) credit losses 36 (208) 302 Net income 1,496 1,429 1,103 Per Common Share Diluted earnings - as reported $      3.39 $      3.23 $      2.43 Impact from integration costs (non-GAAP) 0.03 0.06 0.21 Diluted earnings - as adjusted (non-GAAP) 3.42 3.29 2.64 Average diluted common shares outstanding 414 420 427 Book value 101.39 106.47 120.25 Tangible book value (non-GAAP) 74.39 79.68 93.83 Balance Sheet & Credit Quality Average loans    In billions $    304.8 $    290.7 $    255.6 Average deposits     In billions 446.5 453.3 401.7 Accumulated other comprehensive income (loss) (AOCI)    In billions (8.4) (5.7) 1.5 Net loan charge-offs 83 137 306 Allowance for credit losses to total loans 1.65 % 1.76 % 2.16 % Selected Ratios Return on average common shareholders' equity 13.52 % 11.64 % 8.32 % Return on average assets 1.10 1.05 0.88 Net interest margin (NIM) (non-GAAP) 2.50 2.28 2.29 Noninterest income to total revenue 40 40 45 Efficiency 63 68 65 Common equity Tier 1 capital ratio 9.6 9.9 10.1 Diluted earnings as adjusted is a non-GAAP measure calculated by excluding post-tax integration costs for BBVA USA.

PNC REPORTS SECOND QUARTER 2022 NET INCOME OF $1.5 BILLION, $3.39 DILUTED EPS OR $3.42 AS ADJUSTED

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Voff Premium Pet Food (Voff), a portfolio company of Systematic Growth, on its pending sale to Axcel. Voff is a leading European platform in the premium natural pet food segment, comprising nine strong brands across eight business units. The transaction is being led by Will Bain, Ryan Budlong, Konstantin Molinari and Ruben Pinheiro of the Harris Williams Consume

Harris Williams Advises Voff Premium Pet Food on its Pending Sale to Axcel

PNC has consistently reported strong bottom-line results, exceeding EPS estimates in 18 of its last 20 quarterly reports.

PNC Q2 Preview: 8th Consecutive EPS Beat on Its Way?

Despite growth in asset management revenues, higher NII and loan growth, rising expenses are expected to have hurt PNC Financial's (PNC) Q2 earnings.

Loans, Fee Income to Aid PNC Financial (PNC) Q2 Earnings

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Luna Innovations

ROANOKE, Va.--(BUSINESS WIRE)--Luna announces new debt facility with PNC, replacing previous debt facilities.

Luna Innovations Announces $35M Debt Facility

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces Keensight Capital's (Keensight) investment in Lisam Systems (Lisam). Lisam serves more than 2,000 clients operating across various industries worldwide, including chemicals, detergents, paints and coatings, industrial and specialty gases, and fragrances. The transaction, led by Julien Oussadon, Brian Titterington, and Luke Clifford of the Harris Williams Technology Group, exte

Harris Williams Advises Keensight Capital on its Investment in Lisam Systems

PITTSBURGH , June 23, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether banking organizations have sufficient capital to absorb losses and support operations during hypothetical severely adverse economic conditions over a nine-quarter projection period.

PNC RELEASES RESULTS OF DODD-FRANK COMPANY-RUN STRESS TEST

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Technical Safety Services (TSS), a portfolio company of The Edgewater Funds (Edgewater) and JZ Partners (JZ), on its sale to Levine Leichtman Capital Partners (LLCP). TSS is a leading provider of testing, inspection, certification, and calibration (TICC) services to customers in the pharmaceutical, biotechnology, healthcare, and other life sciences end market

Harris Williams Advises Technical Safety Services on its Sale to Levine Leichtman Capital Partners

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Bamboo Rose, a portfolio company of McCarthy Capital (McCarthy), on its strategic investment from Rubicon Technology Partners (Rubicon). Bamboo Rose is a leading unified product lifecycle and supply chain software platform for retailers, brands, and suppliers. The transaction was led by Andy Leed, Erik Szyndlar, Ryan Costa, Nick DeGallier and Jeff Doremus of

Harris Williams Advises Bamboo Rose on its Strategic Investment from Rubicon Technology Partners

This bank just raised its dividend by 20% to $1.50 per share

This Bank Stock Is a Must-Own for Any Dividend Investor

PITTSBURGH , June 17, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption on June 28, 2022, of all of the outstanding Senior Notes due July 28, 2022, issued by PNC Bank, National Association in the amount of $750,000,000 (CUSIP 69353RFE3). The securities have a distribution rate of 2.450% and an original scheduled maturity date of July 28, 2022.

PNC ANNOUNCES REDEMPTION OF 2.450 PERCENT SENIOR BANK NOTES DUE JULY 28, 2022

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RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Cold Jet, a global leader in innovative dry ice technologies, on its minority investment from Seidler Equity Partners (Seidler) and Stonehenge Partners (Stonehenge). The transaction was led by John Arendale, Chuck Walter and Tom Dunne of the Harris Williams Industrials Group. “As a leader in dry ice technology, Cold Jet is recognized for its innovative soluti

Harris Williams Advises Cold Jet on Its Minority Investment From Seidler Equity Partners and Stonehenge Partners

LOVELAND, Ohio , June 14, 2022 /PRNewswire/ -- Cold Jet, the global leader in innovative dry ice technologies that put recycled CO2 to work for a cleaner, healthier planet announces it has entered into an investment partnership with Seidler Equity Partners and Stonehenge Partners in collaboration with Harris Williams. "Our new partnership.

Cold Jet, Seidler Equity Partners and Stonehenge Partners Transact Minority Investment Partnership in Collaboration with Harris Williams M&A Advisory Services

DENVER--(BUSINESS WIRE)--PNC Bank has signed an agreement with AEG Presents to rename Fiddler's Green Amphitheatre's two main plazas -“PNC Plaza North” and “PNC Plaza South.”

AEG Presents, PNC Bank Ink Landmark Agreement to Rename Prominent Plazas at Fiddler's Green Amphitheatre

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Crete Mechanical Group (CMG), a leading provider of HVAC, electrical, plumbing, and building automation services to commercial, industrial, multi-family, government, healthcare, education, and other end markets, on its partnership with Ridgemont Equity Partners (Ridgemont). Alongside the founders and management team of CMG, Ridgemont has provided significant

Harris Williams Advises Crete Mechanical Group on its Partnership with Ridgemont Equity Partners

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Dermatologists of Central States (DOCS), a portfolio company of Sheridan Capital Partners (Sheridan), on its partnership with SkyKnight Capital (SkyKnight). DOCS is a leading dermatology group practice with clinics located across Ohio, Michigan, West Virginia, Illinois, Indiana, Pennsylvania, and North Carolina. The transaction was led by Paul Hepper, Geoff S

Harris Williams Advises Dermatologists of Central States on its Partnership with SkyKnight Capital

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Terra Millennium Corporation (Terra Millennium), a portfolio company of Court Square Capital Partners (Court Square), on its pending sale to H.I.G. Capital (H.I.G.). Terra Millennium is a leading national provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services. Terra Millennium's executive te

News for PNC Financial Services Stock (PNC)