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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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The PNC Financial Services Group, Inc (PNC) reachead $146.70 at the closing of the latest trading day, reflecting a -1.44% change compared to its last close.

Here's Why The PNC Financial Services Group, Inc (PNC) Fell More Than Broader Market

PNC Financials' (PNC) solid balance sheet and strategic initiatives will continue supporting its financials. However, a rise in costs will hurt.

Balance Sheet Strength Aids PNC Financial (PNC), High Costs Ail

PITTSBURGH , Feb. 20, 2024 /PRNewswire/ -- The PNC Financial Services Group (NYSE: PNC) today announced that its Board of Directors has unanimously appointed Michael P. Lyons president of the corporation and its wholly owned banking subsidiary, PNC Bank, National Association, effective immediately.

PNC Appoints Michael P. Lyons President

PNC Financial (PNC) plans to invest $1 billion to open more than 100 branches by 2028. The company also aims to renovate above 1,200 locations.

PNC Financial (PNC) Plans to Invest $1B in 100 New Branches

HOUSTON & DALLAS--(BUSINESS WIRE)--The San Juan Basin Royalty Trust announces the resignation of PNC Bank as Trustee and the appointment of Argent Trust Company as Trustee.

San Juan Basin Royalty Trust Confirms Resignation of PNC Bank as Trustee and Appointment of Argent Trust Company as Successor Trustee

PNC Bank will invest $1 billion to open more than 100 new locations and renovate 1,200 existing ones through 2028. The bank currently has about 2,300 brick-and-mortar locations across the country, PNC Bank said in a Wednesday (Feb. 14) press release.

PNC Bank to Add 100 Locations, Renovate 1,200 Through 2028

PNC Bank said on Wednesday it is planning to invest roughly $1 billion to open more than 100 new branches and renovate over 1,200 existing locations through 2028.

PNC plans $1 billion investment to expand, renovate branch network

PNC Financial Services Group Inc. PNC said Wednesday it plans to spend $1 billion on its branch network. Plans include opening more than 100 new branches and renovating 1,200 out of a total network of 2,300 by the end of 2028.

PNC to spend $1B on its bank branches

Plans to open more than 100 new branches, renovate more than 1,200 existing locations PITTSBURGH , Feb. 14, 2024 /PRNewswire/ -- PNC Bank announced today a significant investment in its branch network aimed at extending access to banking services and financial expertise for customers and communities across the country. The plan includes an approximate $1 billion investment to open more than 100 new locations and renovate more than 1,200 existing locations through 2028.

PNC Bank Announces Nearly $1 Billion Investment In Coast-to-Coast Branch Network

PITTSBURGH , Feb. 7, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Executive Vice President and Chief Financial Officer Robert Q. Reilly will discuss business performance and  strategy at 8:50 a.m.

PNC Executive To Speak At Bank of America Conference

Affirm

HomeStreet

The United States banking sector had been in the spotlight in the first half of last year, as a series of events shook the industry and the markets. In March 2023, a wave of bond selloffs triggered by rising inflation expectations caused massive losses for banks holding long-term debt securities.

3 Financial Stocks to Sell as the Sector Faces Margin Pressure in 2024

Bank of America

Citigroup

Goldman Sachs

JPMorgan Chase & Co

U.S. Bancorp

Wells Fargo

The failures of Silicon Valley Bank and First Republic Bank last year cost the Federal Deposit Insurance Corporation (FDIC) $18.7 billion. The FDIC imposed a special assessment on 114 financial institutions totaling $16.3 billion to recover lost funds.

The FDIC Assessed $16 Billion to Banks For Last Year's Banking Failures: Here's How Much the Big Banks Are Paying

PNC Financial's (PNC) Q4 earnings surpass estimates on decent expense-control efforts and a decline in provision for credit losses.

PNC Financial (PNC) Q4 Earnings Beat on Lower Cost & Provisions

PNC Financial Services Group saw delinquencies, total non-performing loans (NPLs) and net loan charge-offs increase during the fourth quarter. One notable contributor to the increase was the commercial real estate (CRE) portfolio, Robert Q.

PNC Net Loan Charge-Offs Rise 65%, Driven by Commercial Real Estate

The PNC Financial Services Group, Inc. (PNC) Q4 2023 Earnings Call Transcript

Shares of PNC Financial Services Group Inc. (PNC) fell early Tuesday but later recovered as the bank's earnings slumped on a regulatory charge and costs for layoffs.

Regulatory Fee, Layoff Expenses Drag Down PNC Profit

PNC Financial's (PNC) Q4 earnings gain from a rise in loan balances and an improvement in credit quality. However, higher expenses and lower NII act as headwinds.

PNC Financial's (PNC) Q4 Earnings Beat Estimates, Costs Up

The headline numbers for The PNC Financial Services Group, Inc (PNC) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

The PNC Financial Services Group, Inc (PNC) Reports Q4 Earnings: What Key Metrics Have to Say

Morgan Stanley

Bank earnings -- and earnings season in general -- kicked off on Friday and continued to start the holiday-shortened week.

2 Bank Stocks Moving Lower After Earnings

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.16 per share, beating the Zacks Consensus Estimate of $2.99 per share. This compares to earnings of $3.49 per share a year ago.

The PNC Financial Services Group, Inc (PNC) Surpasses Q4 Earnings and Revenue Estimates

PNC Financial Services Group's net interest income shrank as it took on increased charges to replenish a government deposit insurance fund as well as workforce reduction expenses.

PNC Financial reports drop in net income

Fourth quarter 2023 net income was $0.9 billion, $1.85 diluted EPS or $3.16 as adjusted Grew revenue; increased average loans and deposits PITTSBURGH , Jan. 16, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter For the year In millions, except per share data and as noted 4Q23 3Q23 2023 2022 Fourth Quarter Highlights Financial Results Comparisons reflect 4Q23 vs. 3Q23 Revenue $    5,361 $    5,233 $  21,490 $ 21,120  Income Statement ▪   Revenue increased 2% due to strong      noninterest income growth ▪   Core noninterest expense increased     5% primarily reflecting higher      business activity –  Core noninterest expense excludes     $515 million related to the FDIC     special assessment and $150     million of workforce reduction     charges ▪   Provision for credit losses of $232     million Balance Sheet ▪   Average loans increased 2% ▪   Average deposits grew modestly ▪   ACL to total loans of 1.7% was stable ▪   Net loan charge-offs were $200 million,     or 0.24% annualized to average loans ▪   AOCI improved $2.6 billion to negative     $7.7 billion, reflecting favorable interest      rate movements ▪   TBV increased to $85.08 ▪   CET1 capital ratio of 9.9% –  Repurchased $0.1 billion of common    shares       Noninterest expense (NIE) 4,074 3,245 14,012 13,170 Non-core NIE adjustments 665 — 665 — Core NIE (non-GAAP) 3,409 3,245 13,347 13,170 Pretax, pre-provision earnings - as adjusted (non-GAAP) 1,952 1,988 8,143 7,950 Provision for credit losses 232 129 742 477 Net income 883 1,570 5,647 6,113 Per Common Share Diluted earnings $      1.85 $      3.60 $    12.79 $   13.85 Impact from non-core NIE adjustments 1.31 — 1.31 — Diluted earnings - as adjusted (non-GAAP) 3.16 3.60 14.10 13.85 Average diluted common shares outstanding 401 400 401 412 Book value 112.72 105.98 112.72 99.93 Tangible book value (TBV) (non-GAAP) 85.08 78.16 85.08 72.12 Balance Sheet & Credit Quality Average loans    In billions $    324.6 $    319.5 $    323.5 $   307.7 Average deposits    In billions 423.9 422.5 427.1 443.4 Accumulated other comprehensive income (loss) (AOCI)    In billions (7.7) (10.3) (7.7) (10.2) Net loan charge-offs 200 121 710 563 Allowance for credit losses (ACL) to total loans 1.70 % 1.70 % 1.70 % 1.67 % Selected Ratios Return on average common shareholders' equity 6.93 % 13.65 % 12.35 % 13.52 % Return on average assets 0.62 1.12 1.01 1.11 Net interest margin (NIM) (non-GAAP) 2.66 2.71 2.76 2.65 Noninterest income to total revenue 37 35 35 38 Efficiency 76 62 65 62 Efficiency - as adjusted (non-GAAP) 64 62 62 62 Common equity Tier 1 (CET1) capital ratio 9.9 9.8 9.9 9.1 Core NIE is a non-GAAP measure calculated by excluding non-core NIE adjustments from noninterest expense.

PNC Reports Full Year 2023 Net Income of $5.6 Billion, $12.79 Diluted EPS or $14.10 as Adjusted

Northern Trust

Investors with an interest in Banks - Major Regional stocks have likely encountered both The PNC Financial Services Group, Inc (PNC) and Northern Trust Corporation (NTRS). But which of these two stocks presents investors with the better value opportunity right now?

PNC or NTRS: Which Is the Better Value Stock Right Now?

The Federal Reserve suggested that interest rates might be slashed in 2024. This should stimulate demand for loans, relieve pressure on borrowers, and encourage investment banking activity.

Here's Why Bank of America, PNC, and Wells Fargo Stock Surged Last Month

Get a deeper insight into the potential performance of The PNC Financial Services Group, Inc (PNC) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

News for PNC Financial Services Stock (PNC)