PNC Stock Recent News

Insurance giant Progressive Corporation (PGR) and banking leader PNC Financial Services Group (PNC) are two top-rated finance stocks to consider after exceeding their Q3 expectations on Tuesday.

Does The PNC Financial Services Group, Inc (PNC) have what it takes to be a top stock pick for momentum investors? Let's find out.

PNC Financial Services Group said Tuesday (Oct. 15) that it is prepared for lending to pick up after the Federal Reserve cut interest rates in September. During the third quarter, which ended Sept.

The PNC Financial Services Group, Inc.'s PNC third-quarter 2024 adjusted earnings per share of $3.49 surpassed the Zacks Consensus Estimate of $3.29. In the prior-year quarter, the company reported earnings per share of $3.60.

The PNC Financial Services Group, Inc. (NYSE:PNC ) Q3 2024 Earnings Conference Call October 15, 2024 10:00 AM ET Company Participants Bryan Gill - Executive Vice President and Director of Investor Relations Bill Demchak - Chairman and Chief Executive Officer Rob Reilly - Executive Vice President and Chief Financial Officer Conference Call Participants Erika Najarian - UBS John Pancari - Evercore Piper Sandler - Scott Siefers Matt O'Connor - Deutsche Bank Bill Carcache - Wolfe Research Mike Mayo - Wells Fargo Ebrahim Poonawala - Bank of America Betsy Graseck - Morgan Stanley Gerard Cassidy - RBC Capital Markets Operator Greetings, welcome to The PNC Financial Services Group Q3 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.49 per share, beating the Zacks Consensus Estimate of $3.29 per share. This compares to earnings of $3.60 per share a year ago.

Generated positive operating leverage; grew NII; substantially increased fee income and TBV  PITTSBURGH , Oct. 15, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 3Q24 2Q24 3Q23 Third Quarter Highlights Financial Results Comparisons reflect 3Q24 vs. 2Q24 Net interest income (NII) $    3,410 $    3,302 $    3,418           Income Statement ▪   Generated 1% positive operatingleverage ▪   Revenue stable; noninterest expense decreased 1%; PPNR increased 2% •   NII grew 3%; NIM increased 4 bps •   Fee income increased 10%, and included strong capital markets and advisory revenue •   Other noninterest income of $69 million included negative Visa derivative fair value adjustments of $128 million; 2Q24 included the benefit of $141 million of significant items                Balance Sheet ▪   Average loans were stable ▪   Average deposits a

PNC Financial excels in non-interest income and strategic diversification, with 40% of revenue from corporate and institutional banking, and disciplined expense management. Despite potential net interest income declines, PNC's strong balance sheet and capital flexibility offer resilience in a complex macroeconomic environment. PNC offers a compelling mix of growth and income with a 3.5% yield and a 9.3% five-year CAGR, though it faces risks from rate cuts and commercial real estate.

PNC's Q3 2024 results are likely to benefit from a rise in NII and capital markets & advisory revenues. Yet, rising costs and lower fee income are concerns.

The PNC Financial Services Group (PNC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.