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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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PITTSBURGH, May 14, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the previously announced acquisition of BBVA USA Bancshares, Inc., including its U.S. banking subsidiary, BBVA USA. The regulatory approval process also included approvals from the Banking Departments of the States of Alabama and Texas.

PNC Receives Regulatory Approval For Acquisition Of BBVA USA

Banco Bilbao Vizcaya Argentaria

The U.S. Federal Reserve said on Friday it had approved the acquisition of the U.S. operations of Spanish lender BBVA by PNC Financial Services Group Inc, clearing the way for a deal first announced in November.

Fed approves acquisition of BBVA's U.S. banking arm by PNC

Citigroup

M&T Bank

Investors are gearing up for a potential jump in inflation rates following an unprecedented $6 trillion in U.S. government stimulus spending since the beginning of 2020. An extended period of elevated inflation may be great news for banks as long as inflation rates don't get out of control, according to Bank of America analyst Erika Najarian

3 Top Bank Stock Picks For 'Goldilocks Inflation' Cycle

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Guaranty Bancshares

Independent Bank

New York Community Bancorp

Webster Financial

Bank M&As shot up in April. Banks like Webster (WBS), BancorpSouth (BXS), New York Community (NYCB), Independent Bank (INDB), Guaranty Bancshares (GNTY), PNC Financial (PNC) & BankUnited (BKU) have either announced acquisitions or are planning to do so.

M&As in Banking Sector Jump in April: Will the Trend Continue?

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Two Sigma Impact and Avance Investment Management (Avance) on their investment in Wholesale Supplies Plus (WSP). WSP is a leading e-commerce provider of ingredients and supplies to commercial artisans who create personal care, beauty and home fragrance products. The transaction was led by Kelly McPhilliamy and Beau Pierce of the Harris Williams Consumer Group

Harris Williams Advises Two Sigma Impact and Avance Investment Management on Their Investment in Wholesale Supplies Plus

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Velocity Clinical Research (Velocity), a portfolio company of NaviMed Capital (NaviMed), on its sale to Global Healthcare Opportunities, or GHO Capital Partners LLP (GHO). Velocity is a leading integrated site organization for clinical trials. The transaction was led by Paul Hepper, Nick Owens, Lucas Scholl, Katie Bowden and Jonathan Ferrell of the Harris Wil

Harris Williams Advises Velocity Clinical Research on its Sale to GHO Capital Partners LLP

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised ADB Companies, LLC and its affiliates (ADB), a leading turnkey provider of telecommunication and utility infrastructure solutions in the United States, on its sale to Warren Equity Partners (Warren Equity). ADB was previously part of the Keeley Companies family of companies. Rusty Keeley, CEO of the Keeley Companies, and Chad Johnson, CEO of ADB, will maintai

Harris Williams Advises ADB Companies, LLC on its Sale to Warren Equity Partners

WASHINGTON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised CIS Secure Computing, Inc. (CIS), a portfolio company of Acorn Growth Companies (Acorn), on its sale to HKW. CIS is a provider of secure endpoint communications technologies for enduring national security missions of the U.S. government. The transaction was led by Chris Rogers, David Jones, Chris Smith and Elliot Cave of the Harris Williams Aerospace, Defense &a

Harris Williams Advises CIS Secure Computing, Inc. on its Sale to HKW

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised ACL Airshop, a global leader in air cargo unit load device (ULD) logistics solutions to over 200 airlines, air cargo carriers and other transportation clients, on its acquisition by Alinda Capital Partners (Alinda). ACL Airshop is a portfolio company of Argosy Private Equity (Argosy), Balance Point Capital (Balance Point), ORIX Private Equity Solutions, Azale

Harris Williams Advises ACL Airshop as it Partners for Growth With Alinda Capital Partners

PITTSBURGH, April 27, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced a Community Benefits Plan to provide $88 billion in loans, investments, and other financial support to bolster economic opportunity for low- and moderate-income (LMI) individuals and communities, people and communities of color, and other underserved individuals and communities over a four-year period beginning Jan. 1, 2022. The Plan – developed in connection with the anticipated regulatory approval and closing of PNC's pending acquisition of BBVA USA Bancshares, Inc., including its U.S. banking subsidiary, BBVA USA – covers the geographies currently served by PNC and the new geographies PNC will expand into through the BBVA USA acquisition.

PNC Announces $88 Billion Community Benefits Plan

This bank is guiding for lower average loan balances in 2021 and is not expecting the type of loan growth other CEOs have been optimistic about.

Will There Be Loan Growth in 2021? Not According to This Bank CEO

Banks like PNC Financial (PNC), BNY Mellon (BK), KeyCorp (KEY), Comerica (CMA) & Fifth Third (FITB) outpace Q1 estimates on robust fee income growth and reserve releases.

Bank Stock Roundup: PNC, BK, KEY, CMA & FITB in Focus on Q1 Earnings Beat

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces the sale of Corsearch, a portfolio company of Audax Private Equity (Audax), to Astorg. Corsearch's innovative brand risk and performance solutions provide an end-to-end brand establishment and brand protection offering to corporations and law firms around the world. The transaction, led by Thierry Monjauze, Julien Oussadon, Mathew Tsui and Luke Clifford of the Harris Williams

Harris Williams Advises Corsearch on Its Sale to Astorg

The PNC Financial Services Group, Inc. (PNC) CEO Bill Demchak on Q1 2021 Results - Earnings Call Transcript

PNC Financial Services Group released its first-quarter earnings report Friday (April 16), showing an increase in retail banking along with an overall net income of $1.8 billion. “PNC had a solid start to 2021,” Chairman, President and CEO Bill Demchak said in a statement, pointing to a growth in revenue, improved credit metrics and record […]

Retail Banking Earnings Increase For PNC, Report Shows

PNC Financial Services Group Inc. (NYSE: PNC) said on Friday that it topped analysts' estimates for earnings and revenue in the fiscal first quarter. PNC Financial shares were reported about 1.5% up in premarket trading on Friday and gained another 1% on market open.

PNC Financial reports a 3% annualised decline in its first-quarter revenue

PNC Financial's (PNC) Q1 performance highlights strong capital position, higher fee income and lower provisions.

PNC Financial (PNC) Q1 Earnings Beat on Decline in Provisions

The PNC Financial Services Group, Inc (PNC) delivered earnings and revenue surprises of 49.09% and 2.24%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

The PNC Financial Services Group, Inc (PNC) Surpasses Q1 Earnings and Revenue Estimates

Shares of PNC Financial Services Gr (NYSE:PNC) rose 0.1% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share increased 110.26% year over year to $4.10, which beat the estimate of $2.75.

PNC Financial Services: Q1 Earnings Insights

PITTSBURGH, April 16, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 1Q21 4Q20 1Q20 First Quarter Highlights Financial Results   ▪  5% linked quarter positive operating leverage, driven by modest revenue growth and lower expenses  ▪  Significant provision recapture reflecting improved macroeconomic expectations  ▪  NIM contracted 5 basis points linked quarter, reflecting the impact of higher balances held at the Federal Reserve  ▪  Average loans declined 3% linked quarter primarily due to lower utilization and originations ▪  Average deposits grew 2% on a linked quarter basis – Loan to deposit ratio of 63%  ▪  Record capital and liquidity   ▪  Improving credit performance; net charge-offs to average loans of 0.25%  ▪  BBVA USA acquisition planning on track. Continue to expect a mid-2021 close Revenue $ 4,220 $ 4,208 $ 4,336 Noninterest expense 2,574 2,708 2,543 Pretax, pre-provision earnings (non-GAAP) 1,646 1,500 1,793 Provision for (recapture of) credit losses (551) (254) 914 Net income from continuing operations 1,826 1,456 759 Per Common Share Diluted EPS from continuing operations $ 4.10 $ 3.26 $ 1.59 Book value 118.47 119.11 106.70 Tangible book value (non-GAAP) 96.57 97.43 84.93 Balance Sheet & Credit Quality Average loans (in billions) $ 238.1 $ 245.8 $ 243.6 Average deposits (in billions) 365.4 359.4 289.7 Net loan charge-offs 146 229 212 Allowance for credit losses to total loans 2.20 % 2.46 % 1.66 % Selected Ratios Return on average common equity 14.31 % 11.16 % 7.51 % Return on average assets 1.58 1.24 0.89 Net interest margin (non-GAAP) 2.27 2.32 2.84 Noninterest income to total revenue 44 42 42 Efficiency 61 64 59 Common Equity Tier 1 capital ratio 12.6 12.2 9.4 See non-GAAP financial measures included in the consolidated financial highlights accompanying this news release.

PNC Reports First Quarter 2021 Net Income Of $1.8 Billion, $4.10 Diluted EPS

PNC Financial's (PNC) Q1 earnings are expected to have gained from cost-control efforts and strong equity markets, offset by lower interest rates.

Will Fee Income Growth Aid PNC Financial (PNC) Q1 Earnings?

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The big banks are no longer market laggards as many have broken out to new 5-year highs.

5 Red-Hot Big Bank Earnings Charts

PNC Financial Services Group Inc. said Tuesday that it will start giving users of its "virtual wallet" offering at least a day to handle overdrafts before the company begins charging fees. The bank will alert customers of negative balances and give them "often more" than a day to address them, which the company said in a release could help customers avoid $125 million to $150 million in overdraft fees each year.

PNC to delay overdraft fees for at least a day with 'virtual wallet' customers

PITTSBURGH, April 13, 2021 /PRNewswire/ -- Addressing the $17 billion that some studies estimate U.S. consumers pay each year in overdraft fees, The PNC Financial Services Group, Inc. (NYSE: PNC) today announced its groundbreaking new Low Cash Mode℠ digital offering that is expected to help Virtual Wallet® customers avoid overdraft fees through unprecedented account transparency and control to manage through low-cash moments or mis-timed payments. "Low Cash Mode gives our customers the ability to avoid unnecessary overdraft fees.

PNC Launches Low Cash Mode(SM) To Address $17 Billion In Industry Overdraft Fees

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April marks the beginning of earnings season, and banks have many reasons for optimism. Here are seven bank stocks that have potential upside.

News for PNC Financial Services Stock (PNC)