10 stories mentioning PNCUpdated 7d ago
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PNC Financial Services (PNC) has an average rating of overweight and mean price target of $277.93, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
PNC Financial Services (PNC) has an average rating of overweight and mean price target of $275.98, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $253.49, Change: $-0.66, Percent Change: -0.26%
Wall Street banks and smaller competitors remain attractive investment opportunities as financial institutions are set to report earnings this week, according to analysts at BofA Securities and KBW."Our conversations indicate a long bias toward bank stocks that have emerged as an island of stability in a financials sector where stocks have been rocked by fears due to (artificial intelligence) disruption risks, and the adoption of digital assets," Ebrahim Poonawala, head of North American banks research at BofA, said in a note to clients.Long-only investors and portfolio managers are looking for proof that earnings momentum will continue into 2027, he said. That would make the group a "reliable play" as investors move away from chip stocks, Poonawala said.Bank stocks so far this year have performed better than the broader market. The KBW Nasdaq Bank Index is up about 14% so far this year, compared with a 10% gain in the S&P 500 Index."While this has pushed relative multiples higher, relative valuations remain well-below long-term averages," KBW banking analyst Christopher McGratty said in a July 8 note to clients.Banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C) are expected to release quarterly results before markets open in the US on Tuesday. Morgan Stanley (MS) reports Wednesday, followed by US Bancorp (USB) on Thursday.BofA's Poonawala said a key question for bank profitability is how firms are performing on net interest income -- the difference between the money a bank generates from interest-bearing assets such as loans and securities and the interest it pays out to depositors and lenders."Investors appear increasingly willing to tolerate modest margin pressure if banks can deliver improving NII," he said. "The key debate is whether management teams can offset deposit competition with asset repricing, loan growth, fee growth and operating leverage."Poonawala's favorite names in the banking sector are Citi, Morgan Stanley, State Street (STT), PNC Financial Services (PNC), Huntington Bancshares (HBAN) and US Bancorp. He categorized M&T Bank (MTB), Regions Financial (RF) and Fifth Third Bancorp (FITB) as "crowded relative shorts," according to the note.Investors are looking for JPMorgan, the largest US bank by assets, to guide on net interest income and trends in capital markets, he said.If JPMorgan raises its NII guidance excluding markets and says there's no incremental increase in its expense outlook, it "could trigger sustained stock outperformance," Poonawala said.KBW said it is sticking with its view that so-called universal banks -- Wells Fargo, Citi, Morgan Stanley, Bank of America, JPMorgan and Goldman Sachs -- will continue to benefit from "multi-year structural tailwinds for capital markets and capital return."Stocks that KBW recommends investors hold overweight positions in include Morgan Stanley, PNC, Popular (BPOP), Flagstar Bank (FLG) and Hancock Whitney (HWC).KBW no longer expects the Federal Reserve to cut interest rates this year and believes the year will end with a Fed funds rate of 3.75%. The yield on the 10-year Treasury bond is expected to be 4.4% through the end of 2027, up from a previous estimate of 4.2%, KBW said. Gross-domestic product growth should come in at 2.1% this year and 2% next year, with unemployment between 4.3% and 4.5%, KBW predicted."A higher-for-longer interest rate outlook is firmly entrenched in market expectations," McGratty said in his research note.Another buoyant factor for banks was IPO volumes and mergers and acquisitions, he said."Investment banking results for (the second quarter) are expected to be strong with pockets of M&A advisory fees expected to aid top-line results, though equity underwriting is expected to be the story of (the quarter), with the bulge brackets set to benefit the most following elevated issuance from mega-deals pricing during the quarter," McGratty said.Deals in the quarter included SpaceX's (SPCX) record IPO in June.Matthew Leising
Alexander E. C. Overstrom, Executive Vice President, on June 08, 2026, sold 1,500 shares in PNC Financial Services Group (PNC) for $341,957. Following the Form 4 filing with the SEC, Overstrom has control over a total of 19,620 common shares of the company, with 19,620 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/713676/000162828026042159/xslF345X05/wk-form4_1781118344.xmlPrice: $232.81, Change: $+0.63, Percent Change: +0.27%
PNC Financial Services (PNC) has an average rating of overweight and mean price target of $254.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $218.10, Change: $-2.61, Percent Change: -1.18%
PNC Financial Services (PNC) has an average rating of overweight and mean price target of $253.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $222.78, Change: $+4.07, Percent Change: +1.86%
PNC Financial Services (PNC) reported a strong Q1 marked by standout growth in net interest income and margin expansion, supported by its FirstBank acquisition, RBC Capital Markets said in a Wednesday note.The company posted Q1 adjusted EPS of $4.32, above RBC's estimate of $4.14, while revenue rose 13% year over year to $6.17 billion, RBC said.Higher net interest income and contributions from fee-based businesses led to revenue growth, the firm said.Net interest income rose 14% from a year earlier, while net interest margin expanded 11 basis points to 2.95%, RBC said.Loan growth also accelerated, with period-end loans rising 13% year over year to $360.9 billion, including 18% growth in commercial and industrial loans, the report said.RBC maintained its outperform rating and $235 price target on PNC Financial Services.Price: $222.54, Change: $+0.47, Percent Change: +0.21%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After reviewing Q1 2026 earnings, we increase our 12-month target price by $10 to $300, 14.3x our 2027 EPS estimate, a premium to the peer average of 10.0x given PNC's more stable operating model. With the FirstBank acquisition off to a strong start, we raise our 2026 EPS estimate by $0.97 to $18.96 and increase 2027's by $1.45 to $20.92. PNC is performing well, with balance sheet growth exceeding its competitors and strong organic growth prospects driven by branch expansion into high-growth states. The company's solid first-quarter performance enabled it to raise guidance for both loan growth and net interest income while holding expense guidance steady, a positive signal for future profitability. Regarding concerns about Non-Depository Financial Institution (NDFI) loan exposure, PNC appears to be well protected. Roughly 90% of these loans carry investment-grade ratings and management considers them among the bank's safest assets. Shares yield a healthy 3.0%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PNC posted strong Q1 2026 results with adjusted EPS of $4.32 vs. $3.51 prior year, $0.16 above consensus. Results include the FirstBank acquisition completed January 6, adding $26B in assets, $16B in loans, and $23B in deposits. Balance sheet growth exceeded our expectations with 9% loan growth driven by the acquisition plus new production and increased utilization rates. Net interest income jumped 6% with NIM expanding 11 basis points to 2.95%, continuing PNC's asset repricing story as deposit costs fell 18 basis points. We note the deposit mix meaningfully improved as noninterest-bearing balances surged 8% vs. 4% overall deposit growth. Credit quality remained strong with core net charge-offs at 0.24% annualized, up from 0.20% but excluding $45M of acquired FirstBank charge-offs. The allowance decreased to 1.52% of loans from 1.58%, reflecting disciplined underwriting standards and the FirstBank portfolio addition.
The main US stock measures were pointing lower in Wednesday's premarket activity as traders monitor updates on the potential revival of peace talks between the US and Iran and await more bank earnings.The S&P 500, the Dow Jones Industrial Average and the Nasdaq declined 0.2% each before the opening bell. The indexes finished Tuesday trading higher, with the Nasdaq extending its winning streak to a tenth consecutive session.President Donald Trump told the New York Post on Tuesday that additional negotiations with Iran over a peace deal "could be happening over next two days" in Pakistan. A second round of talks between Washington and Tehran is currently under discussion, although nothing has been officially scheduled yet, CNBC reported Tuesday, citing a White House official.In a Fox Business interview, Trump said he views the Iran war as "very close to over."Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.West Texas Intermediate crude oil inclined 1.8% to $92.96 a barrel in premarket action, while Brent rose 2.2% to $90.13.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.Treasury Secretary Scott Bessent reportedly said at an event on Tuesday that the Trump administration's tariffs may be restored by July to the levels in place before the Supreme Court invalidated them in February.Treasury yields were moving upwards before the open, with the two-year rate gaining 0.4 basis points to 3.76% and the 10-year rate adding 0.6 basis points to 4.26%.Bank of America (BAC), Morgan Stanley (MS), Progressive (PGR), PNC Financial Services (PNC), M&T Bank (MTB) and First Horizon (FHN) are all scheduled to post their quarterly earnings before the bell, among others. J.B. Hunt Transport Services (JBHT) releases its results after the markets close.ASML's (ASML) US-listed stock nudged 0.8% lower pre-bell after the Dutch chip equipment maker reported its quarterly results. Broadcom (AVGO) gained 3.1% as the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's artificial intelligence compute infrastructure.Government data on Tuesday showed that producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Empire State manufacturing index for April and the import and export prices report for March, both at 8:30 am. The housing market index for this month is out at 10 am, while the EIA domestic petroleum inventories report is due at 10:30 am.The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, posts at 2 pm.Fed Governor Michael Barr is slated to speak at 8:30 am, while Fed Vice Chair for Supervision Michelle Bowman speaks at 1:45 pm.Gold slipped 0.7% to $4,818 per troy ounce, while bitcoin ticked down 0.2% to $74,132.
