PNC Stock Recent News

PNC Financial (PNC) shares surged over 4% Tuesday after the bank reported second-quarter profit and revenue that beat analysts' estimates. The bank also gave a stronger outlook for net interest income (NII).

The rise in non-interest income and higher loan balance support PNC Financial's (PNC) Q2 earnings, while lower net interest income and a rise in provisions act as headwinds.

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.30 per share, beating the Zacks Consensus Estimate of $3 per share. This compares to earnings of $3.36 per share a year ago.

Generated positive operating leverage; grew NII and NIM; maintained 2.5% SCB requirement Increased quarterly common stock dividend 5 cents to $1.60 per share on July 2, 2024 PITTSBURGH , July 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 2Q24 1Q24 2Q23 Second Quarter Highlights Financial Results Comparisons reflect 2Q24 vs. 1Q24 Net interest income (NII) $    3,302 $    3,264 $    3,510 Income Statement Noninterest income 2,109 1,881 1,783 ▪   Generated positive operating leverage; PPNR increased 13% Revenue 5,411 5,145 5,293 Noninterest expense 3,357 3,334 3,372 ▪   Revenue increased 5% Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,054 1,811 1,921 –  NII and NIM increased Provision for credit losses 235 155 146 ▪   Noninterest expense increased 1% Net income 1,477 1,344 1,500 ▪   Gain on Visa share exchange of$754 million substantially offset

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for The PNC Financial Services Group (PNC), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.

PNC Financial's (PNC) second-quarter 2024 results are likely to be driven by an improved lending scenario and an increase in fee income, offset by rising expenses and higher provisions.

The PNC Financial Services Group (PNC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Erika Najarian, UBS large cap bank and consumer finance analyst, joins 'Squawk on the Street' to discuss how to pick the winners among the financials, why Najarian favors PNC, and more.

Gus Faucher, chief economist at PNC, joins 'Power Lunch' to offer his jobs report reaction and expected Fed outlook.

PNC Financial (PNC) announces a quarterly dividend hike of 3% following the Fed's stress test results. Its solid balance sheet and earnings strength are set to support the capital distribution moves.