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PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

153.71USD
18 Jan 2018
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Latest Key Developments (Source: Significant Developments)

PNC Financial Reports FY2017 Net Income $5.4 Billion
Friday, 12 Jan 2018 06:50am EST 

Jan 12 (Reuters) - PNC Financial Services Group Inc ::PNC REPORTS RECORD FULL YEAR 2017 NET INCOME OF $5.4 BILLION, $10.36 DILUTED EPS.Q4 REVENUE $4.3 BILLION VERSUS I/B/E/S VIEW $4.18 BILLION.QTRLY DILUTED EARNINGS PER COMMON SHARE $4.18 ‍​.QTRLY NET INTEREST INCOME OF $2.3 BILLION WAS STABLE WITH Q3.TRANSITIONAL BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 10.4 PERCENT AT DEC 31, 2017.TOTAL LOANS AT DECEMBER 31, 2017 DECLINED $.6 BILLION COMPARED WITH SEPTEMBER 30, 2017‍​.QTRLY PROVISION FOR CREDIT LOSSES WAS $125 MILLION, A DECLINE OF $5 MILLION FROM PREVIOUS QUARTER.PNC FINANCIAL SERVICES GROUP - PRO FORMA FULLY PHASED-IN BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 9.8 PERCENT AT DEC 31, 2017.QTRLY NET INTEREST MARGIN WAS 2.88 PERCENT COMPARED WITH 2.91 PERCENT IN THE THIRD QUARTER‍​.NET CHARGE-OFFS INCREASED TO $123 MILLION FOR Q4 COMPARED WITH $106 MILLION FOR Q3.4Q17 IMPACT ON NET INCOME FROM TAX LEGISLATION AND SIGNIFICANT ITEMS‍​ $911 MILLION.Q4 EARNINGS PER SHARE VIEW $2.20 -- THOMSON REUTERS I/B/E/S.QTRLY NON-GAAP EPS EXCLUDING IMPACT OF TAX LEGISLATION & SIGNIFICANT ITEMS $2.29‍​.  Full Article

PNC Announces Redemption Of 1.5 Pct Senior Bank Notes Due Feb. 23, 2018
Thursday, 11 Jan 2018 07:57am EST 

Jan 11 (Reuters) - PNC Financial Services Group Inc ::PNC ANNOUNCES REDEMPTION OF 1.500 PERCENT SENIOR BANK NOTES DUE FEBRUARY 23, 2018.PNC FINANCIAL SERVICES - ANNOUNCED REDEMPTION ON JAN. 24, 2018 OF OUTSTANDING SENIOR NOTES DUE FEB. 23, 2018 ISSUED BY PNC BANK, NATIONAL ASSOCIATION.PNC FINANCIAL - REDEMPTION PRICE WILL BE EQUAL TO $1,000 PER $1,000 IN PRINCIPAL AMOUNT, PLUS ANY ACCRUED, UNPAID DISTRIBUTIONS TO JAN. 24, 2018.  Full Article

PNC Financial Services Increases Size of Board To 16​
Thursday, 4 Jan 2018 12:04pm EST 

Jan 4 (Reuters) - Pnc Financial Services Group Inc ::PNC FINANCIAL SERVICES GROUP SAYS BOARD INCREASED NUMBER OF DIRECTORS FROM 14 TO 16​ - SEC FILING.  Full Article

PNC Says Will Raise Minimum Pay Rate To $15 An Hour By End Of 2018
Friday, 22 Dec 2017 12:22pm EST 

Dec 22 (Reuters) - PNC Financial Services Group Inc ::WILL PROVIDE FOR EMPLOYEES IN DEFINED BENEFIT PENSION PLAN AN ADDITIONAL $1,500 TO THEIR EXISTING PENSION ACCOUNTS.RAISE MINIMUM PAY RATE TO $15 AN HOUR BY END OF 2018.PNC TO PROVIDE A $1,000 CASH PAYMENT TO ABOUT 47,500 EMPLOYEES IN Q1 OF 2018.  Full Article

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 fourth quarter profit more than doubles

PNC Financial Services Group Inc reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth and the U.S. regional lender also forecast mid-single digit loan and revenue growth for 2018.