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% <p ...

Investors are always looking for stocks that are poised to beat at earnings season and The PNC Financial Services Group, Inc. (PNC) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because PNC Financial is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possi ...

In its upcoming report, The PNC Financial Services Group, Inc (PNC) is predicted by Wall Street analysts to post quarterly earnings of $3.09 per share, reflecting a decline of 22.4% compared to the same period last year. Revenues are forecasted to be $5.19 billion, representing a year-over-year decrease of 7.4%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the c ...

The PNC Financial Services Group, Inc.’s (PNC) solid balance sheet position and an increase in net interest income (NII) will continue to support its financials. Given the company’s earnings strength, its capital distribution activities seem sustainable. However, an elevated expense base and a lack of loan portfolio diversification are major concerns.PNC Financial thrives on a strong balance sheet position, evidenced by a steady rise in loans and deposit balances. Both loans and deposits witnessed a compoun ...

The PNC Financial Services Group, Inc (PNC) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on April 16, 2024, might help the stock move higher if these key numb ...

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. The board also declared a cash dividend on the following series of preferred stocks: Series B: a quarterly dividend of 45 cents per share will be payable June 10, ...

Earnings Performance - The PNC Financial Services Group has consistently beaten earnings estimates, with an average surprise of 9.45% over the last two quarters [1] - For the last reported quarter, the company posted earnings of $3.16 per share, beating the Zacks Consensus Estimate of $2.99 per share by 5.69% [1] - In the previous quarter, the company delivered earnings of $3.60 per share, surpassing the expected $3.18 per share by 13.21% [1] Earnings ESP and Zacks Rank - The company currently has a positive Zacks Earnings ESP of +3.93%, indicating bullish sentiment among analysts [3] - Stocks with a positive Earnings ESP and a Zacks Rank 3 (Hold) or better have a 70% chance of beating consensus estimates [2] - The combination of a positive Earnings ESP and a solid Zacks Rank suggests a high likelihood of another earnings beat in the upcoming report [3] Analyst Estimates and Predictive Power - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the former reflecting the latest analyst revisions [3] - A negative Earnings ESP does not necessarily predict an earnings miss but reduces the predictive power of the metric [4] - While many companies beat EPS estimates, this alone may not drive stock price movements, emphasizing the importance of checking Earnings ESP before earnings releases [4]

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. Meanwhile, a high number of the banks’ valuations are quite low. Also importantly, the many regional banks with relatively ...

National TV spot focuses on longtime strategy that has fueled coast-to-coast expansionPITTSBURGH, 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 custom ...

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. Lyons, president. Thomas succeeds Lyons in the role, after Lyons was appointed president Feb. 20, 2024. "Mike brings a unique depth and breadth of experience and a history of strong performance and collaboration to his new role," said Lyons. "I am confident the C&IB business will c ...