|Bid||127.30 x 1400|
|Ask||131.00 x 2200|
|Day's range||128.38 - 130.54|
|52-week range||110.31 - 176.34|
|Beta (5Y monthly)||1.10|
|PE ratio (TTM)||8.74|
|Earnings date||18 Jul 2023|
|Forward dividend & yield||6.00 (4.70%)|
|Ex-dividend date||17 Apr 2023|
|1y target est||142.55|
The PNC Financial Services Group, Inc (PNC) closed at $123.28 in the latest trading session, marking a -0.24% move from the prior day.
RICHMOND, Va., June 01, 2023--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Made4net, a portfolio company of Thompson Street Capital Partners (TSCP), on its sale to Ingka Group, IKEA’s largest franchisee and owner of 482 IKEA stores in 31 countries. Made4net is a global leader in cloud-based warehouse management systems (WMS) and end-to-end supply chain execution software. In conjunction with the acquisition, Ingka Group will be rolling out
In the latest trading session, The PNC Financial Services Group, Inc (PNC) closed at $118.85, marking a +0.06% move from the previous day.
Senator Elizabeth Warren confronted regulators about a deal that made the nation's largest bank even bigger.
Toyota Motor, NextEra Energy, HCA Healthcare, Canadian Pacific Kansas City and The PNC Financial Services are part of the Zacks top Analyst Blog.
Today's Research Daily features new research reports on 16 major stocks, including Toyota Motor Corporation (TM), NextEra Energy, Inc. (NEE) and HCA Healthcare, Inc. (HCA).
PNC Financial (PNC) is expanding through acquisitions. Solid loan and deposit balances are positives. However, elevated expenses, declining NII and exposure to commercial loans are headwinds.
Strength in core banking franchise and impressive fundamentals make a case for PNC Financial (PNC) as a dividend pick for income investors amid the recession fears.
PNC Financial Services Group (NYSE: PNC) saw its stock price fall 10.9% this week as of Friday at 10:35 a.m. ET, according to S&P Global Market Intelligence. The markets were all down this week, as the S&P 500 was off 1.2%, the Dow Jones Industrial Average fell 1.5%, and the Nasdaq Composite dropped 0.6% this week, as of Friday at 10:35 a.m. ET. PNC Financial is the holding company for PNC Bank, the sixth-largest bank in the country, with about $562 billion in assets.
The Oracle of Omaha sold a large portion of Berkshire’s holdings in US banks between 2020 and 2022, some just months before the banking system upheaval that began in mid March.
PNC Financial Services Group Inc said on Tuesday the parent company and its banking unit can offer up to $15 billion of its commercial paper to provide additional liquidity. The regional bank, which has so far been insulated from deposit flight, said in a filing the holding company can offer up to $5 billion and the banking unit $10 billion. No commercial paper has been issued as of March 31, the filing said.
Takeout Mexican, lots of coffee and more than 800 people fueled a weekend-long effort by JPMorgan to win a government-led auction.
The FDIC invited several banks to make bids for the San Francisco lender, including JPMorgan and PNC.
The super-regional bank PNC Financial Services (NYSE: PNC) recently reported first-quarter earnings results that easily beat analyst estimates, although they slightly missed on revenue. While near-term challenges remain, I think PNC presents a more conservative risk-reward opportunity when compared to some of its more immediate peers like U.S. Bancorp and Truist. One thing that stands out about PNC is that its balance sheet is very sound when you look at liquidity, capital, its securities book, and deposits.
Higher NII on the back of decent loan demand and rising rates support KeyCorp's (KEY) Q1 earnings amid increased provisions, deposit outflows and higher funding costs.
Bank earnings this week, including reports from Bank of America (BAC), Goldman Sachs (GS) and especially smaller regional banks, will give investors a better indication and more definitive signs on whether the recent banking crisis is over. Better-than-expected results in the past week from bellwethers like JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) calmed the market to a large extent, but there is still reason for caution. Yahoo Finance spoke to several banking experts who gave their assessment on the current environment. American Banker’s John Heltman says it’s too early to call the crisis over before we see quarterly results from more mid-size regional banks. Quant Insight Head of Analytics Huw Roberts says he feels the crisis is largely contained and credits the Fed for restoring order. ‘I think you have to give credit to the Fed and other authorities for the speed at which they moved,’ he said. Key video moments: 00:00:13 banking crisis 'feels contained' 00:00:40 why deposits are 'leaving the system' 00:00:55 moving from crisis to stabilization phase
American Banker Washington Bureau Chief John Heltman and eToro Global Markets Strategist Ben Laidler joined Yahoo Finance Live to discuss the outlook for the U.S. banking system. 'I think there's gonna be a regulatory crackdown. I think that's absolutely inevitable,' said Laidler. While Heltman stated that 'this is a problem that regulators are going to have to grapple with sooner or later.' Full video transcript: John Heltman (00:00:05) - The banks that have reported so far, JP Morgan, Wells Fargo, did better than expected, but these are some of the bigger banks. The place to watch is the mid-size regionals, the PNCs, the M&Ts. PNC's numbers came in last week and they were, you know, decent. Although their warning of concerns about tighter net interest margins with cost of funds really going up and cost of long-dated loans staying the same. So that's something to watch, especially for smaller and mid-size banks. You saw the last month $300 billion in deposits left banks and something like $240 billion went into money market funds. And that's for the simple reason that they make more money in a money market fund than in a bank, although they don't have the security of deposit insurance that you have with a bank. So this is a problem that regulators are going to have to grapple with sooner or later, to figure out how to even the playing field between money market funds and banks and bank deposits, to figure out how to stem that tide. But it's not, I don't predict it being a giant rush, but it's gonna be a slow drip over time and a slow drip that is going to impact, especially, as I said, the smaller and medium-sized banks. Ben Laidler (00:01:16) - Financial conditions are tightening. I think the banks are gonna be doing the Fed's work for it. We're not saying there's a banking crisis, but, you know, we have lived through a scare. And I think that means a couple of things. I think deposits are leaving the system. They're being attracted into money market funds by the 5% rates that are on offer versus the sub 1% you get at your bank. That predates SVB and the recent banking scare. So I think that's gonna continue and you've absolutely seen that even with the results from the big banks. Secondly, I think there's gonna be a regulatory crackdown. I think that's absolutely inevitable. And I think thirdly, the smaller banks have seen, you know, the worst of this sort of deposit outflows are gonna see the worst of this regulatory crackdown. But I think regardless everybody is gonna be lending less going forward than they might otherwise have done. And lending standards already tightening. So again, I think this is just, you know, we've already got the lagged effect of 5% interest rates, and now on top of that, we've got banks which are gonna be lending less, and that that combination is gonna slow the economy in slow earnings, which we really haven't seen yet. Watch American Banker Washington Bureau Chief John Heltman's full interview here. See eToro Global Markets Strategist Ben Laidler entire appearance here.
Big banks argue the worst is over. Their first-quarter results show that challenges still remain.
Stocks finished the week with gains as the Dow rose more than 1% for the week while JPMorgan shares rose 7.5% on Friday, the stock's biggest one-day gain since November 2020.
An increase in NII supported by higher rates, aid PNC Financial's (PNC) Q1 earnings. However, increasing expenses and higher provisions are headwinds.
Shares in U.S. banks were a mixed bag on Friday with JPMorgan Chase soaring 7.0% after its quarterly report impressed investors while PNC Financial was among regional bank decliners after it reduced growth expectations for 2023. JPMorgan, the biggest U.S. lender by assets, reported a first-quarter profit that beat estimates with interest income offseting weakness in dealmaking. Shares in Citigroup climbed after its first-quarter profit also beat expectations as it earned more from borrowers paying higher interest on loans.
Major Banks Kick Earnings Season Off With Beats.
Unofficial Q1 earnings season has kicked off with JPMorgan (JPM) posting a +20% positive earnings surprise.