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PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

PNC Bank Announces Definitive Agreement To Acquire The Trout Group
Monday, 27 Nov 2017 08:30am EST 

Nov 27 (Reuters) - PNC Financial Services Group Inc ::PNC BANK ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE THE TROUT GROUP, LLC.‍PNC BANK SAYS TROUT WILL BE COMBINED WITH SOLEBURY COMMUNICATIONS, A WHOLLY-OWNED SUBSIDIARY OF PNC​.‍PNC BANK SAYS DEAL IS EXPECTED TO CLOSE IN LATE DECEMBER, TERMS OF DEAL WILL NOT BE DISCLOSED​.  Full Article

Appaloosa Lp cuts share stake in Chesapeake, Bank of America
Tuesday, 14 Nov 2017 09:29am EST 

Nov 14 (Reuters) - :Appaloosa Lp cuts share stake in Chesapeake Energy Corp to 766,000 shares from 3.6 million shares - sec filing.Appaloosa Lp cuts share stake in Bank of America Corp by 27.9 percent to 6.3 million shares.Appaloosa Lp cuts share stake in PNC Financial Services Group Inc by 48.2 percent to 922,510 shares.Change in holdings are as of September 30, 2017 and compared with the previous quarter ended as of June 30, 2017.  Full Article

PNC Financial expects modest growth in Q4 loans vs Q3 - conf call
Friday, 13 Oct 2017 08:38am EDT 

Oct 13 (Reuters) - PNC Financial Services Group Inc :PNC Financial Services - expects modest growth in Q4 loans versus Q3 - conf call.PNC Financial Services - expect Q4 net interest income, fee income and expenses to each be up in the low single digits vs Q3 - conf call.PNC Financial Services - expect Q4 provision to be between $100 million and $150 million - conf call.  Full Article

PNC Reports Q3 2017 Results
Friday, 13 Oct 2017 06:40am EDT 

Oct 13 (Reuters) - PNC Financial Services Group : :Says qtrly ‍net interest income grew $87 million, or 4 percent, from Q2 to $2.3 billion.Says qtrly ‍provision for credit losses grew $32 million to $130 million from Q2 & included $10 million related to Hurricanes Harvey & Irma​.Says third quarter 2017 net income of $1.1 billion, $2.16 diluted EPS.Q3 revenue $4.1 billion versus i/b/e/s view $4.11 billion.Says Q3 earnings per share $2.16.Q3 earnings per share view $2.13 -- Thomson Reuters I/B/E/S.Says‍ net charge-offs declined to $106 million for Q3 compared with $110 million for Q2​.Says ‍loans grew $3.1 billion, or 1 percent, to $221.1 billion at September 30, 2017 compared with June 30, 2017​.Says Pro Forma Fully Phased-In Basel III common equity tier 1 capital ratio was estimated 9.8 percent at both Sept 30, June 30.Says ‍Transitional Basel III common equity tier 1 capital ratio was an estimated 10.3 percent at both sept 30, june 30, 2017​.Says net interest margin increased to 2.91 percent for third quarter of 2017 compared with 2.84 percent for second quarter‍​.  Full Article

Pnc reports Q3 2017 earnings per share of $2.16
Friday, 13 Oct 2017 06:40am EDT 

Oct 13 (Reuters) - Pnc :Pnc reports third quarter 2017 net income of $1.1 billion, $2.16 diluted EPS.Q3 revenue $4.1 billion versus I/B/E/S view $4.11 billion.Q3 earnings per share $2.16.Q3 earnings per share view $2.13 -- Thomson Reuters I/B/E/S.PNC Financial Services Group Inc - qtrly ‍net interest income grew $87 million, or 4 percent, to $2.3 billion​.PNC Financial Services Group Inc - ‍ net charge-offs declined to $106 million for Q3 compared with $110 million for Q2​.PNC Financial Services - qtrly ‍provision for credit losses increased $32 million to $130 million and included $10 million related to hurricanes Harvey and Irma​.PNC Financial Services Group Inc - ‍loans grew $3.1 billion, or 1 percent, to $221.1 billion at September 30, 2017 compared with June 30, 2017​.PNC Financial Services Group - ‍ pro forma fully phased-in basel III common equity tier 1 capital ratio was estimated 9.8 percent at both Sept 30, June 30.PNC Financial Services Group - ‍transitional basel III common equity tier 1 capital ratio was an estimated 10.3 percent at both Sept 30, June 30, 2017​.PNC Financial Services Group - net interest margin increased to 2.91 percent for third quarter of 2017 compared with 2.84 percent for second quarter‍​.  Full Article

PNC announces redemption of 1.500 percent senior bank notes due Oct 18
Thursday, 7 Sep 2017 06:12pm EDT 

Sept 7 (Reuters) - PNC Financial Services Group Inc ::Announces redemption of 1.500 percent senior bank notes due October 18, 2017.Says ‍redemption of outstanding senior notes due October 18 issued by PNC Bank, National Association in amount of $500 million.Says redemption price will be $1,000 per $1,000 in principal amount, plus any accrued and unpaid distributions to redemption date of September 18, 2017.  Full Article

PNC Financial Services Q2 earnings per share $2.10
Friday, 14 Jul 2017 06:38am EDT 

July 14 (Reuters) - PNC Financial Services Group Inc ::PNC reports second quarter 2017 net income of $1.1 billion, $2.10 diluted eps.Q2 revenue $4.1 billion.Q2 earnings per share $2.10.Q2 earnings per share view $2.02 -- Thomson Reuters I/B/E/S.Qtrly net interest income increased $98 million, or 5 percent, to $2.3 billion.PNC Financial Services Group Inc - ‍loans grew $5.2 billion, or 2 percent, to $218.0 billion at June 30, 2017 compared with March 31, 2017​.Qtrly provision for credit losses increased $10 million to $98 million.PNC Financial Services Group Inc - transitional basel iii common equity tier 1 capital ratio was an estimated 10.3 percent at june 30, 2017.PNC Financial Services Group Inc - ‍net charge-offs decreased to $110 million for Q2 compared with $118 million for q1​.PNC Financial Services Group Inc says net interest margin increased to 2.84 percent for Q2 of 2017 compared with 2.77 percent for Q1.PNC Financial Services Group - pro forma fully phased-in basel iii common equity tier 1 capital ratio was an estimated 9.8 percent at June 30, 2017.PNC Financial Services Group - ‍total deposits at june 30, decreased $1.5 billion versus march 31, 2017 reflecting seasonal decline in consumer deposit balances​.Q2 revenue view $3.99 billion -- Thomson Reuters I/B/E/S.  Full Article

PNC Financial Services no objection to its capital plan
Wednesday, 28 Jun 2017 04:45pm EDT 

June 28 (Reuters) - PNC Financial Services Group Inc ::PNC Financial services-‍capital plan included recommendation to increase quarterly dividend by 20 cents per share, or 36 percent, to 75 cents per share​.PNC Financial Services Group Inc - ‍capital plan also included share repurchase programs of up to $2.7 billion for four-quarter period​.PNC Financial Services Group Inc - new ‍programs include repurchases of up to $300 million related to employee benefit plans​.  Full Article

PNC reports Q1 earnings of $1.96/shr
Thursday, 13 Apr 2017 06:40am EDT 

PNC Financial Services Group Inc : PNC reports first quarter 2017 net income of $1.1 billion, $1.96 diluted eps . Q1 revenue $3.9 billion . Q1 earnings per share $1.96 . Q1 earnings per share view $1.82 -- Thomson Reuters I/B/E/S . PNC Financial Services Group Inc - qtrly net interest income increased $30 million, or 1 percent, to $2.2 billion . PNC Financial Services Group Inc - Transitional basel III common equity tier 1 capital ratio was an estimated 10.5 percent at March 31, 2017 . PNC Financial Services Group Inc - qtrly provision for credit losses was $88 million, an increase of $21 million . PNC Financial Services Group - pro forma fully phased-in basel III common equity tier 1 capital ratio was an estimated 10.0 percent at March 31, 2017 . PNC Financial Services- net interest margin increased to 2.77 percent for q1 of 2017 compared with 2.69 percent for Q4 and 2.75 percent for Q1 of 2016 .PNC Financial Services Group Inc - net charge-offs increased to $118 million for Q1 compared with $106 million for Q4.  Full Article

PNC to acquire ECN Capital's U.S. Commercial, vendor finance business
Tuesday, 21 Feb 2017 07:42am EST 

PNC Financial Services Group Inc : PNC to acquire ECN Capital's U.S. Commercial, vendor finance business . PNC Financial Services Group Inc - acquisition is expected to be modestly accretive to 2017 earnings per share .PNC Financial Services Group Inc- transaction is currently expected to be completed in Q2 of 2017.  Full Article

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Big U.S. banks in last-ditch push on regulatory relief bill

WASHINGTON Wall Street banks and big regional lenders are scrambling to secure changes to a U.S. Senate bill easing rules on smaller banks ahead of a key lawmaker meeting next week, several bank lobbyists told Reuters.