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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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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 Services Group saw average commercial loans dip in the first quarter as businesses remained cautious about the macroeconomic environment. Overall, average loans decreased 1%.

PNC Reports 2% Commercial Loan Dip Amid Manufacturer ‘Hesitancy'

The PNC Financial Services Group, Inc. (PNC) Q1 2024 Earnings Call Transcript

PNC Financial's (PNC) Q1 earnings reflect an improvement in deposit balances, alongside lower provisions. However, challenges emerge with lower net interest income and higher expenses.

PNC Financial (PNC) Q1 Earnings Beat Estimates, Costs Rise

Bank of America

Citigroup

Wells Fargo

U.S. banking giants continued to shed employees in the first quarter, with Citigroup seeing the biggest drop.

Big banks led by Citi continue layoffs amid pressure to cut costs

PNC Financial Services Group (PNC) shares lost ground Tuesday as the bank posted a big drop in first-quarter profit and revenue, and offered soft guidance.PNC reported first-quarter net income fell 21% year-over-year to $1.34 billion, although adjusted earnings per share (EPS) of $3.36 exceeded estimates. Revenue declined 8% to $5.15 billion, short of forecasts.

PNC Stock Slips After Q1 Profit and Revenue Slide

While the top- and bottom-line numbers for The PNC Financial Services Group (PNC) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

The PNC Financial Services Group (PNC) Reports Q1 Earnings: What Key Metrics Have to Say

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.36 per share, beating the Zacks Consensus Estimate of $3.09 per share. This compares to earnings of $3.98 per share a year ago.

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

Regional bank PNC Financial reported first-quarter earnings and revenue both slipped from a year ago.

PNC Stock Is Edging Lower. Earnings Beat, but Revenue Disappointed.

PNC Financial Services reported a 21% fall in first-quarter profit on Tuesday, hurt by lower interest income as the lender paid more to hold customer deposits in a high interest rate environment.

PNC profit falls 21% amid weaker interest income

Grew liquidity and capital; reduced expenses; credit quality stable PITTSBURGH , April 16, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 1Q24 4Q23 1Q23 First Quarter Highlights Financial Results Comparisons reflect 1Q24 vs. 4Q23 Revenue $    5,145 $    5,361 $    5,603   Income Statement   ▪  Revenue decreased 4% ▪  Core noninterest expenses declined 6% ▪  Generated positive operating leverage; efficiency improved ▪  Provision for credit losses of $ 155 million Balance Sheet ▪  Average loans decreased 1% ▪  Average deposits decreased 1% –  Spot deposits increased 1% ▪  ACL to total loans stable at 1.7% ▪  Net loan charge-offs were $ 243 million, or 0.30% annualized to average loans ▪  AOCI was negative $8.0 billion, compared to negative $7.7 billion, reflecting higher interest rates ▪  TBV per share increased to $85.70 ▪  Federal Reserve Bank balances averaged $47.8 billion, an increase of $5.6 billion ▪  Maintained strong capital position –  CET1 capital ratio of 10.1% –  Repurchased $0.1 billion of common shares Noninterest expense (NIE) 3,334 4,074 3,321 Non-core NIE adjustments 130 665 — Core NIE (non-GAAP) 3,204 3,409 3,321 Pretax, pre-provision earnings - as adjusted (non-GAAP) 1,941 1,952 2,282 Provision for credit losses 155 232 235 Net income 1,344 883 1,694 Per Common Share Diluted earnings $      3.10 $      1.85 $      3.98 Impact from non-core NIE adjustments 0.26 1.31 — Diluted earnings - as adjusted (non-GAAP) 3.36 3.16 3.98 Average diluted common shares outstanding 400 401 402 Book value 113.30 112.72 104.76 Tangible book value (TBV) (non-GAAP) 85.70 85.08 76.90 Balance Sheet & Credit Quality Average loans    In billions $    320.6 $    324.6 $    325.5 Average deposits    In billions 420.2 423.9 436.2 Accumulated other comprehensive income (loss) (AOCI)    In billions (8.0) (7.7) (9.1) Net loan charge-offs 243 200 195 Allowance for credit losses (ACL) to total loans 1.68 % 1.70 % 1.66 % Selected Ratios Return on average common shareholders' equity 11.39 % 6.93 % 16.11 % Return on average assets 0.97 0.62 1.22 Net interest margin (NIM) (non-GAAP) 2.57 2.66 2.84 Noninterest income to total revenue 37 37 36 Efficiency 65 76 59 Efficiency - as adjusted (non-GAAP) 62 64 59 Common equity Tier 1 (CET1) capital ratio 10.1 9.9 9.2 Core NIE is a non-GAAP measure calculated by excluding non-core NIE adjustments from noninterest expense.

PNC Reports First Quarter 2024 Net Income of $1.3 Billion, $3.10 Diluted EPS, or $3.36 Excluding a $130 Million FDIC Special Assessment

PNC Financial (PNC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy PNC Financial (PNC) Ahead of Earnings?

Bank of New York Mellon

Johnson & Johnson

United Continental Hlds

We have narrowed our search to five large-cap stocks that are poised to beat on earnings results this week. These are: BAC, JNJ, UAL, PNC, BK.

5 U.S. Bigwigs Likely to Gain on Q1 Earnings Beat This Week

Get a deeper insight into the potential performance of The PNC Financial Services Group (PNC) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Exploring Analyst Estimates for The PNC Financial Services Group (PNC) Q1 Earnings, Beyond Revenue and EPS

PNC Financial (PNC) benefits from strategic buyouts, and solid loan and deposit growth. However, rising expenses and a lack of loan portfolio diversification are major woes.

PNC Financial's (PNC) Strategic Actions Aid as Costs Rise

PITTSBURGH , April 3, 2024 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.55 per share. The dividend, with a payment date of May 5, 2024, will be payable the next business day to shareholders of record at the close of business April 15, 2024.

PNC Declares Dividend of $1.55 on Common Stock

U.S. Bancorp

Bank of America Corp.'s double-digit percentage stock runup in the last six months has prompted a ratings cut to hold from buy at HSBC, analyst Saul Martinez said Thursday in a research note.

Bank of America downgraded after hot stock run, while U.S. Bancorp and PNC get boost

Goldman Sachs

Hecla Mining

Mobileye Global Inc

Wayfair

Earnings growth typically drives stock prices. Three stocks are set to grow at double and even triple-digit rates this year, yet their prices stay at more than 30% discounts from their 52-week highs.

3 Cheap Stocks That Shouldn't Be Cheap for Long

PepsiCo

Presented by Frito-Lay, Quaker, and the PepsiCo Foundation, Super Bowl LVIII's Largest Philanthropic Event Supports GENYOUth's Mission to Help Tackle Youth Hunger Nutrition Grant Opportunity Opens for U.S. Schools NEW YORK , March 21, 2024 /PRNewswire/ --  GENYOUth , the national nonprofit organization founded by America's dairy farmers and the NFL to help ensure students are well-nourished and active to be their best selves, announced today that the collective impact of the 2024 Taste of the NFL philanthropic event totaled $2.0 million . These funds, the largest raised by a Taste of the NFL event since its founding in 1992, will benefit 1,000 schools and 550,000 students by increasing access to 148 million school meals to foster nutrition security among students in all 32 NFL club markets.

GENYOUth AND TASTE OF THE NFL INCREASE ACCESS TO 148 MILLION SCHOOL MEALS, FOSTERING NUTRITION SECURITY AMONG STUDENTS NATIONWIDE

APA Corporation

With major stock markets reaching new highs in Q1, some investors are looking for stocks to buy to exploit the lack of “breadth”. A small number of large-cap stocks with significant weightings have propelled upward movement, while many stocks have underperformed despite a rising market.

3 Laggard Stocks Ready to Join the Market's High-Flying Club

Cisco Systems

Starbucks

The Bank of Japan's long-awaited rate hike did not set the financial world on fire. Neither did Nvidia's new AI chip lineup.

Don't want to chase Big Tech? Money manager flags three unloved stocks to bet on now.

Truist Financial

According to Barron's, the recent decline in many regional bank stocks, caused by New York Community Bancorp's (NYSE: NYCB ) multitude of problems, appears to have created a good buying opportunity for investors within the sector. Investment bank Keefe, Bruyette & Woods says that, despite NYCB's issues, just three regional banks of roughly 4,700 experienced any major difficulties in 2023.

3 Regional Bank Stocks Ready to Rebound and Reward Bold Investors

National TV spot focuses on longtime strategy that has fueled coast-to-coast expansion PITTSBURGH, March 18, 2024 /PRNewswire/ -- PNC Bank ("PNC") debuted today its new Brilliantly Boring℠ brand campaign, a humorous and self-deprecating nod to the strategy that has fueled its growth for nearly 160 years. The campaign — which kicks off today with the launch of a national TV spot — focuses on how the reliable and responsible way the company operates helps lead to exciting and fulfilling outcomes for its customers and communities.

PNC Bank Highlights Nearly 160 Years of Reliable and Responsible Banking With 'Boring' Brand Campaign

PITTSBURGH , March 13, 2024 /PRNewswire/ -- PNC Bank today announced that Michael Thomas has been named head of Corporate & Institutional Banking (C&IB), effective immediately. Based in Pittsburgh, Thomas will report to Michael P.

PNC Names Michael Thomas Head of Corporate & Institutional Banking

The latest trading day saw The PNC Financial Services Group, Inc (PNC) settling at $152.84, representing a +1.67% change from its previous close.

The PNC Financial Services Group, Inc (PNC) Ascends While Market Falls: Some Facts to Note

Owing to a revision in FDIC's estimated losses, PNC Financial (PNC) expects to incur an additional $130 million in assessment fees on a pre-tax basis in the first quarter.

News for PNC Financial Services Stock (PNC)