Tag: $PNC

PNC Financial Services Group, one of the largest regional banks in the U.S., reported better than expected second quarter earnings before the market Tuesday along with Bank of America. Three of the largest U.S. lenders, JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) reported last Friday. However, PNC trimmed its 2023 guidance again and issued Q3 guidance that’s softer than consensus. PNC stock dropped 3.1% in premarket trading before bouncing to up %3 by morning. The so called super … Continue reading “PNC Bank Lowers 2023 Guidance Again after Revenue Lower Than Expected”

PNC Financial Services Group, one of the largest regional banks in the U.S., reported better than expected first quarter earnings before the market Friday along with JPMorgan, Wells Fargo, and Citigroup.  Net income was $1.61 billion, up 18% from a year ago. Earnings of $3.98 a share beat analyst expectations. Shares were down 2% in U.S. premarket with concerns about regional banking despite the beat as PNC lowered its 2023 revenue guidance. PNC stock has fallen more than 20% from … Continue reading “PNC Bank Earnings Beat Expectations but Lowered 2023 Revenue Guidance”

PNC Financial report first quarter earnings before the market Friday along with JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC). PNC fared better than other major regionals in March. Investors will be looking for signs of asset quality deterioration risk for PNC Financial Services Group, Piper Sandler analysts warn. Consensus sees the bank setting aside an additional $308 million in loan-loss provisions in the first quarter, compared to the $208 million released in the same period a year ago. … Continue reading “What to Expect from PNC Bank Earnings Among Regional Banking Crisis”

PNC Financial reported worse than expected fourth quarter earnings before the market Wednesday. JPM, Wells Fargo, Wells Fargo, Bank of America, Goldman Sachs and Citigroup all reported earlier.  Non-interest income fell 8.2% year over year to $2.08 billion due to falling fee income components, except for card and cash management fees, and lending and deposit services fees. PNC reported provision for credit losses of $408 million in the fourth quarter and net loan charge-offs were $224 million, up 80.6% year … Continue reading “PNC Bank Earnings Hurt by Fall in Fee Income and Higher Credit Loss Provisions”

PNC Financial reported better than expected third quarter earnings before the market Friday along with JPM, Wells Fargo and Citigroup.  $PNC saw net interest income grow 7% to $3.5 billion, driven by higher yields on interest-earning assets and loan growth, partially offset by higher funding costs. Noninterest income fell 11% to $2.07 billion on the back of the acquisition of BBVA USA and higher merger and acquisition advisory fees. PNC Financial Services Group Inc NYSE: PNC · Reported Before Open … Continue reading “PNC Bank Earnings Higher with Widening Net Interest Margin”