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Strong fee income, higher deposit balances, along with lower expenses, support PNC's Q4 earnings. Yet, a decline in loan balance remains a near-term concern.
While the top- and bottom-line numbers for The PNC Financial Services Group (PNC) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.77 per share, beating the Zacks Consensus Estimate of $3.30 per share. This compares to earnings of $3.16 per share a year ago.
PNC Financial on Thursday reported a higher fourth-quarter profit as it earned more in interest payments and set aside less capital to cover potential loan defaults.
Generated Positive Operating Leverage Fourth Quarter 2024 net income was $1.6 billion, $3.77 diluted EPS Grew NII and NIM; increased deposits and capital PITTSBURGH , Jan. 16, 2025 /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 4Q24 3Q24 2024 2023 Fourth Quarter Highlights Financial Results Comparisons reflect 4Q24 vs. 3Q24 Net interest income (NII) $ 3,523 $ 3,410 $ 13,499 $ 13,916 Income Statement ▪ Net interest income increased 3% and NIM expanded 11 bps ▪ Fee income decreased 4%, due to elevated 3Q24 residential mortgage and capital markets activity ▪ Other noninterest income of $175 million ▪ Noninterest expense increased 5% and included $97 million of asset impairments and the benefit of an $18 million FDIC special assessment redu
The PNC Financial Services Group, Inc. PNC will release earnings results for its fourth quarter, before the opening bell on Thursday, Jan. 16, 2025.
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Beyond analysts' top -and-bottom-line estimates for The PNC Financial Services Group (PNC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
PNC's Q4 2024 results are likely to benefit from a rise in NII. However, rising costs and lower fee income are concerns.
Today's Options Corner looks at real-life trades in Bank of America (BAC), PNC Financial (PNC), and the SPDR S&P Financial Sector ETF (XLF) ahead of big banks reporting earnings next week. Rick Ducat walks through the options strategies and what the traders might be thinking.