PITTSBURGH, June 28, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether banking organizations have sufficient capita ...

Capital Analysis and Review - The Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) estimated PNC's minimum capital ratios for the period from Q1 2024 through Q1 2026 under the hypothetical Supervisory Severely Adverse scenario [1] - PNC's calculated Stress Capital Buffer (SCB) for the four-quarter period beginning Oct 1, 2024 is 2.2%, below the regulatory minimum SCB amount of 2.5% [1] - PNC's Common Equity Tier 1 (CET1) ratio of 10.1% as of March 31, 2024 significantly exceeds the regulatory minimum plus SCB (7.0%) [1] - Under the Federal Reserve's projections in the 2024 Supervisory Severely Adverse scenario, PNC's post-stress capital ratios are projected to remain well above regulatory minimums, with minimum and ending CET1 ratios both projected to be 8.3%, compared to the regulatory minimum of 4.5% [1] Dividend and Share Repurchase - PNC plans to recommend a 5 cents per share (3%) increase in the quarterly cash dividend on common stock to $1.60 per share in Q3 2024, consistent with the current capital plan approved by its board [2] - The board of directors has authorized a repurchase framework under the previously approved repurchase program of up to 100 million common shares, with approximately 44% still available for repurchase as of March 31, 2024 [3] - Share repurchase activity in Q3 2024 is expected to be consistent with recent quarterly levels, with actual amounts and timing dependent on market and economic conditions [3] Company Overview - PNC Financial Services Group is one of the largest diversified financial services institutions in the United States, offering retail and business banking, specialized services for corporations and government entities, wealth management, and asset management [4]

Current and future college students can apply now for one of 12 available scholarshipsPITTSBURGH, June 5, 2024 /PRNewswire/ -- PNC Bank today introduced an enhanced program that will award $10,000 scholarships to 12 deserving students attending or planning to attend college across the country.PNC's existing, decade-long scholarship program currently awards $2,000 scholarships to 12 students each year. This enhanced program will build on the successes of PNC's current program and provide students with additi ...

Continued sector investment and M&A will reshape the vendor landscape to be driven by artificial intelligence (AI), replacing ineffective EMRs and legacy tools BALTIMORE, June 4, 2024 /PRNewswire/ -- Healthcare consultancy Sage Growth Partners and Harris Williams, a global investment bank specializing in M&A and private capital advisory services, have released a new industry report – "The Current and Future State of Revenue Cycle Management – Market and M&A Trends" – to provide the healthcare market with a ...

PITTSBURGH, June 4, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) expects to issue financial results for the second quarter 2024 at approximately 6:30 a.m. (ET), Tuesday, July 16, 2024, as previously announced. PNC Chairman and Chief Executive Officer William S. Demchak and Executive Vice President and Chief Financial Officer Robert Q. Reilly will hold a conference call for investors the same day at 10 a.m. (ET).Dial in numbers are (866) 604-1697 and (215) 268-9875 (international). ...

PITTSBURGH, June 3, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Executive Vice President and Chief Financial Officer Robert Q. Reilly will discuss business performance and strategy at 1 p.m. (ET) Tuesday, June 11, at the Morgan Stanley US Financials Conference in New York City.The following will be accessible at www.pnc.com/investorevents: a link to the live webcast; related materials, including cautionary statements regarding forward-looking information, als ...

Albuquerque, NM, May 23, 2024 (GLOBE NEWSWIRE) -- Presented by the National Institute of Flamenco, the University of New Mexico, PNC Bank and the National Hispanic Cultural Center, Festival Flamenco Albuquerque—the oldest and largest flamenco festival outside of Spain—will take place from June 21-29. The Festival will include 20 performances, over 60 free and paid workshops, 13 internationally based performance companies, one New Mexican company, two world premiere shows and over 90 performers. Now in its ...

A month has gone by since the last earnings report for The PNC Financial Services Group, Inc (PNC) . Shares have added about 9.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is The PNC Financial Services Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. PNC Fin ...

PITTSBURGH, May 15, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Chairman and Chief Executive Officer William S. Demchak and Executive Vice President and Chief Financial Officer Robert Q. Reilly will discuss business performance and strategy at 1:30 p.m. (ET) Wednesday, May 29, at the Bernstein Strategic Decisions Conference in New York City. The following will be accessible at www.pnc.com/investorevents: a link to the live webcast; related materials, includin ...

The PNC Financial Services Group, Inc. (PNC) has launched the PNC Cash Unlimited Visa Signature credit card. The credit card offers simple but valuable rewards with an unlimited 2% cash back on all eligible purchases.Nate Bacon, head of credit cards at PNC Bank, stated, "The PNC Cash Unlimited Visa Signature credit card is built around the principle of offering competitive, uncomplicated value to our clients."Customers are entitled to earn 2% cash back on all eligible purchases, without any limits on the am ...