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PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

123.09USD
23 Aug 2019
Change (% chg)

$-3.33 (-2.63%)
Prev Close
$126.42
Open
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$122.39
Volume
532,470
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417,600
52-wk High
$147.00
52-wk Low
$108.47

Latest Key Developments (Source: Significant Developments)

PNC Financial Services Reports Q2 EPS Of $2.88
Wednesday, 17 Jul 2019 06:40am EDT 

July 17 (Reuters) - PNC Financial Services Group Inc ::REPORTS SECOND QUARTER 2019 NET INCOME OF $1.4 BILLION, $2.88 DILUTED EPS.Q2 REVENUE $4.4 BILLION VERSUS REFINITIV IBES ESTIMATE OF $4.41 BILLION.FINANCIAL SERVICES GROUP INC - AVERAGE LOANS INCREASED $6.3 BILLION, OR 3 PERCENT, TO $234.8 BILLION IN Q2 COMPARED WITH Q1..FINANCIAL SERVICES GROUP INC - Q2 NET INTEREST MARGIN DECREASED 7 BASIS POINTS TO 2.91 PERCENT VERSUS Q1.FINANCIAL SERVICES GROUP INC - NET CHARGE-OFFS WERE $142 MILLION FOR Q2 COMPARED WITH $136 MILLION FOR Q1..FINANCIAL SERVICES - BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 9.7 PERCENT AT JUNE 30, 2019 AND 9.8 PERCENT AT MARCH 31, 2019..FINANCIAL SERVICES GROUP INC - QTRLY NET INTEREST INCOME OF $2.5 BILLION INCREASED $23 MILLION, OR 1 PERCENT FROM PRIOR Q1 2019.FINANCIAL SERVICES GROUP INC - Q2 PROVISION FOR CREDIT LOSSES WAS $180 MILLION, A DECREASE OF $9 MILLION, OR 5 PERCENT FROM Q1.  Full Article

PNC Raises Common Stock Dividend To $1.15 Per Share
Tuesday, 9 Jul 2019 11:25am EDT 

July 9 (Reuters) - PNC Financial Services Group Inc ::PNC RAISES COMMON STOCK DIVIDEND TO $1.15 PER SHARE.PNC FINANCIAL SERVICES GROUP INC - DECLARED A QUARTERLY CASH DIVIDEND ON COMMON STOCK OF $1.15 PER SHARE, AN INCREASE OF 20 CENTS PER SHARE.  Full Article

Federated Investors To Acquire Certain Investment-Management-Related Assets From The PNC Financial Services Group
Tuesday, 7 May 2019 08:02am EDT 

May 7 (Reuters) - Federated Investors Inc ::FEDERATED INVESTORS, INC. TO ACQUIRE CERTAIN INVESTMENT-MANAGEMENT-RELATED ASSETS FROM THE PNC FINANCIAL SERVICES GROUP.FEDERATED INVESTORS INC - TRANSACTION INCLUDES APPROXIMATELY $9 BILLION IN LIQUIDITY ASSETS, $4.2 BILLION IN EQUITY ASSETS AND $700 MILLION IN FIXED-INCOME ASSETS.FEDERATED INVESTORS INC - FEDERATED WILL PAY PNC AN ESTIMATED TOTAL PURCHASE PRICE OF $52 MILLION WHEN TRANSACTION IS COMPLETED.FEDERATED INVESTORS INC - TRANSACTION HAS BEEN APPROVED BY BOARD OF DIRECTORS.FEDERATED INVESTORS - FEDERATED MUTUAL FUND BOARD OF TRUSTEES AND PNC FUNDS BOARD OF TRUSTEES WILL BE ASKED TO CONSIDER MUTUAL FUND REORGANIZATIONS.FEDERATED INVESTORS INC - EACH MUTUAL FUND REORGANIZATION WILL BE SUBJECT TO APPROVAL OF BOARD OF FEDERATED FUNDS & BOARD, SHAREHOLDERS OF PNC FUNDS.FEDERATED INVESTORS INC - POST-CLOSING, PCA WILL MANAGE APPROXIMATELY $21 BILLION OF CUSTOM LIQUIDITY AND FIXED-INCOME SOLUTIONS.FEDERATED INVESTORS -FOR DEAL, CONSENT OF AFFECTED CLIENTS WITH ADVISORY ACCOUNTS IN PCA'S SEPARATE ACCOUNT, MANAGED ACCOUNT BUSINESS WILL BE SOUGHT.FEDERATED INVESTORS - EXPECTS TO TRANSITION THREE OF PNC'S FUNDAMENTALLY DRIVEN INTERNATIONAL EQUITY MUTUAL FUNDS INTO NEW FEDERATED SHELL PORTFOLIOS.FEDERATED INVESTORS - PNC TEAM OF PORTFOLIO MANAGERS, ANALYSTS RESPONSIBLE FOR INTERNATIONAL EQUITY FUNDS AGREED TO JOIN CO, CONTINUE MANAGING FUNDS.  Full Article

PNC Increases Board, Appoints Three New Members
Thursday, 3 Jan 2019 10:07am EST 

Jan 3 (Reuters) - PNC Financial Services Group Inc ::PNC INCREASES BOARD OF DIRECTORS; APPOINTS THREE NEW MEMBERS.PNC FINANCIAL SERVICES GROUP INC - JOSEPH ALVARADO, RICHARD HARSHMAN AND TONI TOWNES-WHITLEY WILL JOIN PNC'S BOARD, EFFECTIVE IMMEDIATELY.PNC FINANCIAL SERVICES GROUP INC - DECLARES DIVIDEND OF 95 CENTS ON COMMON STOCK.PNC FINANCIAL SERVICES GROUP INC - INCREASED NUMBER OF DIRECTORS ON ITS BOARD TO 14 AND APPOINTED THREE NEW MEMBERS.  Full Article

Pnc Reports Third Quarter 2018 Net Income Of $1.4 Billion, $2.82 Diluted EPS
Friday, 12 Oct 2018 06:45am EDT 

Oct 12 (Reuters) - PNC Financial Services Group Inc ::PNC REPORTS THIRD QUARTER 2018 NET INCOME OF $1.4 BILLION, $2.82 DILUTED EPS.Q3 REVENUE $4.4 BILLION VERSUS I/B/E/S VIEW $4.35 BILLION.PNC FINANCIAL SERVICES - BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 9.3 PERCENT AT SEPT 30, 2018 AND 9.5 PERCENT AT JUNE 30, 2018.AVERAGE LOANS INCREASED $.7 BILLION IN Q3 TO $223.3 BILLION COMPARED WITH Q2.PNC FINANCIAL SERVICES GROUP QTRLY NET INTEREST INCOME INCREASED $53 MILLION, OR 2 PERCENT, TO $2.5 BILLION COMPARED WITH Q2 2018.NET CHARGE-OFFS WERE $91 MILLION FOR Q3 COMPARED WITH $109 MILLION FOR Q2.PNC FINANCIAL SERVICES GROUP QTRLY PROVISION FOR CREDIT LOSSES WAS $88 MILLION, INCREASE OF $8 MILLION COMPARED WITH Q2 2018.PNC FINANCIAL SERVICES GROUP - NET INTEREST MARGIN INCREASED TO 2.99 PERCENT FOR Q3 COMPARED WITH 2.96 PERCENT FOR Q2 & 2.91 PERCENT FOR Q3 2017.Q3 EARNINGS PER SHARE VIEW $2.72 -- THOMSON REUTERS I/B/E/S.  Full Article

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

PNC Financial beats profit estimates on rise in interest income, loans

PNC Financial Services Group Inc on Wednesday posted a better-than-expected second quarter profit, helped by a rise in interest income and loans.