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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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Higher net interest income and loan growth support PNC Financial's (PNC) Q1 results against headwinds like higher expenses and a weak capital position.

PNC Financial (PNC) Q1 Earnings Beat, Revenues Miss Estimates

The PNC Financial Services Group, Inc (PNC) delivered earnings and revenue surprises of 18.35% and 1%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

The PNC Financial Services Group, Inc (PNC) Beats Q1 Earnings Estimates

Grew loans; controlled expenses; maintained strong credit quality Raised quarterly common stock dividend 20% to $1.50 per share on April 1, 2022 PITTSBURGH , April 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 1Q22 4Q21 1Q21 First Quarter Highlights ▪  Diluted EPS as adjusted was $3.29, excluding $31 million of pre-tax integration costs related to BBVA USA   ▪  Revenue decreased 8% linked quarter, primarily driven by lower noninterest income reflecting lower capital markets related revenue and lower business activity   ▪  Expenses decreased 16% linked quarter, and 7% excluding integration expenses, reflecting lower personnel costs   ▪  Provision recapture of $208 million   ▪  Average loans increased 1% linked quarter driven by commercial loan growth, partially offset by $2.2 billion of PPP loan forgiveness   ▪  Average deposits increased modestly   ▪  Book value and tangible book value decreased 12% and 15%, respectively, linked quarter due to a decrease in accumulated other comprehensive income   ▪  Net loan charge-offs were $137 million or 0.19% of annualized average loans Financial Results Revenue $    4,692 $    5,127 $    4,220 Noninterest expense 3,172 3,791 2,574 Pretax, pre-provision earnings (non-GAAP) 1,520 1,336 1,646 Integration costs 31 438 6 Pretax, pre-provision earnings excluding integration costs (non-GAAP) 1,551 1,774 1,652 Provision for (recapture of) credit losses (208) (327) (551) Net income 1,429 1,306 1,826 Per Common Share Diluted earnings - as reported $      3.23 $      2.86 $      4.10 Impact from integration costs (non-GAAP) 0.06 0.82 0.01 Diluted earnings - as adjusted (non-GAAP) 3.29 3.68 4.11 Average diluted common shares outstanding 420 424 426 Book value 106.47 120.61 118.47 Tangible book value (non-GAAP) 79.68 94.11 96.57 Balance Sheet & Credit Quality Average loans (in billions) $    290.7 $    288.9 $    238.1 Average deposits (in billions) 453.3 452.8 365.4 Net loan charge-offs 137 124 146 Allowance for credit losses to total loans 1.76% 1.92% 2.20% Selected Ratios Return on average common shareholders' equity 11.64% 9.61% 14.31% Return on average assets 1.05 0.93 1.58 Net interest margin (non-GAAP) 2.28 2.27 2.27 Noninterest income to total revenue 40 44 44 Efficiency 68 74 61 Efficiency excluding integration costs (non-GAAP) 67 66 61 Common Equity Tier 1 capital ratio 9.9 10.3 12.6 Diluted earnings as adjusted is a non-GAAP measure calculated by excluding post-tax integration costs for BBVA USA. See this and other non-GAAP financial measures in the consolidated financial highlights accompanying this release.

PNC REPORTS FIRST QUARTER 2022 NET INCOME OF $1.4 BILLION, $3.23 DILUTED EPS OR $3.29 AS ADJUSTED

Despite growth in asset management revenues, lower NII and fee income are expected to have acted as spoilsports for PNC Financial's (PNC) Q1 earnings.

Key Factors to Impact PNC Financial's (PNC) Q1 Earnings

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Southwire Company, LLC (Southwire), one of North America's largest wire and cable producers and an emerging influence in the industrial electrical space, on its acquisition of Novinium, Inc. (Novinium), a cable rejuvenation solutions provider focused on electric utilities. The transaction was led by Drew Spitzer, Matt White and Thomas Saunders of the Harris W

Harris Williams Advises Southwire Company, LLC on its Acquisition of Novinium, Inc.

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Forest Holidays, a leading owner and operator of environmentally sensitive cabins in the U.K., on its pending sale to Sykes Holiday Cottages (Sykes), a portfolio company of Vitruvian Partners (Vitruvian). Forest Holidays is owned by an institutional investor group, which is led by Phoenix Equity Partners (Phoenix) and includes LDC. The transaction is being led b

Harris Williams Advises Forest Holidays on its Pending Sale to Sykes Holiday Cottages

Bank's Diverse Business Banking Segment to accelerate support of minority-owned businesses PITTSBURGH , April 6, 2022 /PRNewswire/ -- PNC Bank has launched a new Minority Business Development Group, intended to deliver products, solutions and resources focused on advancing the financial wellness of emerging minority businesses. Comprised of bankers and advocacy partners, the Minority Business Development Group will help prepare minority-owned businesses for effective growth, development and sustainability.

PNC BANK INTRODUCES MINORITY BUSINESS DEVELOPMENT GROUP

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Kane Logistics (Kane), a portfolio company of Harkness Capital Partners (Harkness), on its sale to ID Logistics. Kane is a value-added warehouse and distribution services provider whose solutions include contract packaging and assembly, fulfillment, and dedicated transportation. The transaction was led by Frank Mountcastle and Jonathan Meredith of the Harris

Harris Williams Advises Kane Logistics on its Sale to ID Logistics

PNC Financial (PNC) announces a 20% hike to its quarterly dividend. This, along with share repurchases, will continue to drive shareholder value and boost confidence in the stock.

PNC Financial (PNC) Hikes Dividend by 20%: Worth a Look?

FRANKFURT, Germany--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces the sale of Maillis Plastics Solutions (MPS), an independent subsidiary of Maillis Group owned by H.I.G. Capital (H.I.G.), to Teufelberger and Sigma Plastics Group (Sigma). MPS is a leading European stretch film and strapping manufacturer with a compelling value proposition and a clear commitment to product safety and sustainability. The transaction, led by Jeff Pe

Harris Williams Advises Maillis Plastics Solutions on its Sale to Teufelberger and Sigma Plastics Group

PITTSBURGH , April 1, 2022 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.50 per share, an increase of 25 cents per share, or 20%, from the fourth quarter dividend of $1.25 per share. The dividend will be payable May 5, 2022 to shareholders of record at the close of business April 13, 2022.

PNC RAISES COMMON STOCK DIVIDEND TO $1.50 PER SHARE

– Social Responsibility is a priority for 92% of corporate and nonprofit executives and 94% say SR initiatives are here to stay.– Top initiatives include environmental sustainability; diversity, equity and inclusion; employee benefits; and ethical business practices.

SOCIAL RESPONSIBILITY INITIATIVES TAKING HOLD IN FOR-PROFIT AND NONPROFIT ORGANIZATIONS, PNC SURVEY SHOWS

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Veson Nautical (Veson), a portfolio company of Pamlico Capital (Pamlico), on its pending significant growth investment from Francisco Partners. Existing investors Pamlico and founder John Veson remain significant shareholders. Veson is a global market leader in commercial maritime software and data. The transaction is being led by Andy Leed, Thierry Monja

Harris Williams Advises Veson Nautical on its Pending Significant Growth Investment from Francisco Partners

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Lifemark Health Group (Lifemark), a portfolio company of Audax Private Equity, on its pending sale to Loblaw Companies Limited (TSX: L; Loblaw), on behalf of its wholly owned subsidiary Shoppers Drug Mart (Shoppers). Lifemark is the leading provider of outpatient physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other

Harris Williams Advises Lifemark Health Group on its Pending Sale to Loblaw Companies Limited

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Stonewall Kitchen, LLC (Stonewall Kitchen), a portfolio company of Audax Private Equity (Audax), on its sale to TA Associates (TA). Stonewall Kitchen is a leading family of specialty food, home goods and personal care lifestyle brands. The transaction was led by Tim Alexander, Ryan Freeman, Kelly McPhilliamy, Andy Warczak, Hilary King and Jeremy Sachs of the

Harris Williams Advises Stonewall Kitchen, LLC on its Sale to TA Associates

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, today announced it has promoted several senior professionals across the U.S. and Europe. These promotions reflect the leadership and contributions of these individuals to the firm's strong growth over the past year, including record-setting transaction volume. The promotions include: Anthony Basmajian, Jeff Kidd, John Lautemann, Andy Leed, Dan Linsalata, Priyanka Naithani, Lariss

Harris Williams Announces Senior-Level Promotions

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Smart Care Equipment Solutions (Smart Care), a portfolio company of Audax Private Equity (Audax), on its sale to Zone Climate Services (Zone), a portfolio company of Wind Point Partners (Wind Point). Smart Care is a national service provider for food service refrigeration, cooking, dish wash, HVAC and coffee equipment. The transaction was led by Brian Lucas,

Harris Williams Advises Smart Care Equipment Solutions on its Sale to Zone Climate Services

PITTSBURGH, March 10, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) expects to issue financial results for the first quarter of 2022, Thursday, April 14, as previously announced, at approximately 6:45 a.m. (ET). PNC Chairman, President and Chief Executive Officer William S.

THE PNC FINANCIAL SERVICES GROUP ANNOUNCES FIRST QUARTER 2022 EARNINGS CONFERENCE CALL AND VIRTUAL-ONLY ANNUAL SHAREHOLDERS MEETING DETAILS

PITTSBURGH, March 10, 2022 /PRNewswire/ -- Supply chain issues top the list of concerns for small business owners over the last six months but they see those pressures easing by mid-year. In the meantime, inflation pressures are expected to continue to impact these business owners, with a majority planning to further raise their own prices in the near term, according to the latest PNC semi-annual Economic Outlook survey of small and mid-size business owners and executives, which concluded Feb. 3.

SQUEEZED BY INFLATION, SMALL BUSINESS OWNERS EXPECT TO RAISE PRICES; SUPPLY CHAIN DISRUPTIONS TO EASE, PNC SURVEY SHOWS

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised investment funds managed by Morgan Stanley Capital Partners (MSCP) on its acquisition of SpendMend, a leading provider of tech-enabled solutions to optimize the cost cycle for the healthcare industry. The transaction was led by Dan Linsalata and Sam Hendler of the Harris Williams Technology Group. “SpendMend has established itself as one of the category leade

Harris Williams Advises Morgan Stanley Capital Partners on its Acquisition of SpendMend

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised West Star Aviation (West Star), a portfolio company of Norwest Equity Partners (NEP), on its sale to The Sterling Group (Sterling). West Star is a leading independent provider of maintenance, repairs and operations (MRO) services to the business aviation industry. The transaction was led by Chris Rogers, Doug Kinard, David Jones, Evan Clark and Kevin Winton o

Harris Williams Advises West Star Aviation on its Sale to The Sterling Group

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does The PNC Financial Services Group, Inc (PNC) have what it takes?

Are You Looking for a High-Growth Dividend Stock? The PNC Financial Services Group, Inc (PNC) Could Be a Great Choice

PNC Financial's (PNC) strong balance sheet, inorganic expansion and sound capital deployment activities are positives. Yet, rising operating expenses and declining net interest margins ail.

Reasons to Hold on to PNC Financial (PNC) Stock For Now

PITTSBURGH, Feb. 23, 2022 /PRNewswire/ -- PNC Treasury Management today announced a groundbreaking new on-demand pay solution, PNC EarnedIt. Powered by DailyPay Marketplace, PNC EarnedIt offers pay on-demand – a highly sought-after employee-benefit – to its clients allowing them to provide their employees access to earned pay – throughout any point in the pay cycle – prior to payday.

PNC TREASURY MANAGEMENT LAUNCHES INNOVATIVE ON-DEMAND PAY SOLUTION POWERED BY DAILYPAY

PITTSBURGH, Feb. 22, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Emma Loftus, executive vice president and head of Treasury Management, will discuss business performance, product capabilities and strategy at 1:20 p.m. (ET) Tuesday, March 8, at the virtual RBC Capital Markets Global Financial Institutions Conference.

News for PNC Financial Services Stock (PNC)