At the Bank of America Financial Services Conference, PNC Financial Services Group (PNC) lowered its first-quarter 2024 net interest income (NII) guidance on dismal loan growth.The company expects NII to sequentially dip 3-5% compared with its previous guidance of a decline of 2-3%. The bank has softened its guidance for NII due to lower-than-expected average loan growth and a slower increase in utilization rates than a typical first quarter.PNC had projected average loan growth to be flat in the quarter. B ...

The PNC Financial Services Group, Inc (PNC) closed at $146.70 in the latest trading session, marking a -1.44% move from the prior day. This change lagged the S&P 500's 0.6% loss on the day. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.92%.Heading into today, shares of the company had lost 0.39% over the past month, lagging the Finance sector's gain of 3.63% and the S&P 500's gain of 3.56% in that time.Market participants will be closely following th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-09718 THE PNC FINANCIAL SERVICES GROUP, INC. (Exact name of registrant as specified in its charter) Pennsylvania 25-1435979 (State or other jurisd ...

The PNC Financial Services Group, Inc.’s (PNC) strategic initiatives, solid balance sheet position and net interest income growth (NII) are expected to keep supporting its financials. Also, its sustainable capital distributions seem positive. However, an elevated cost base and commercial loan concentration are concerning.PNC Financial benefits from a strong balance sheet position with loan and deposit balances rising over the years. In October 2023, the company acquired loan commitments from Signature Bank ...

PITTSBURGH, Feb. 20, 2024 /PRNewswire/ -- The PNC Financial Services Group (NYSE: PNC) today announced that its Board of Directors has unanimously appointed Michael P. Lyons president of the corporation and its wholly owned banking subsidiary, PNC Bank, National Association, effective immediately.Lyons will report to William S. Demchak who will continue in his current roles as Chairman and Chief Executive Officer of the corporation. PNC's primary operating lines of business and the Regional Presidents Offic ...

The PNC Financial Services Group, Inc. (PNC) has announced plans to make an investment of $1 billion to open more than 100 branches and renovate above 1,200 existing locations by 2028. With this, the bank is poised to improve its branch network and extend access to banking services for its customers and communities nationwide.Such expansion moves will enable PNC to bolster its presence in key locations, including Austin, Dallas, Denver, Houston, Miami and San Antonio. With this, the bank will boost the reac ...

PNC Bank will invest $1 billion to open more than 100 new locations and renovate 1,200 existing ones through 2028.The bank currently has about 2,300 brick-and-mortar locations across the country, PNC Bank said in a Wednesday (Feb. 14) press release.With this investment, the bank will build and open new branches in Austin, Dallas, Denver, Houston, Miami, San Antonio and other key locations to improve the reach of its branch network, according to the release.“Our branch network is the heartbeat of our Retail ...

PNC Financial Services Group Inc. PNC said Wednesday it plans to spend $1 billion on its branch network. Plans include opening more than 100 new branches and renovating 1,200 out of a total network of 2,300 by the end of 2028. PNC plans to build new branches in San Antonio, Texas, Miami, Houston, Dallas, Denver and Austin, Texas, among other locations. Alex Overstrom, head of PNC Retail Banking, said the bank’s 15,000 team members help customers with home financing, check deposits, saving for retirement and ...

Plans to open more than 100 new branches, renovate more than 1,200 existing locationsPITTSBURGH, Feb. 14, 2024 /PRNewswire/ -- PNC Bank announced today a significant investment in its branch network aimed at extending access to banking services and financial expertise for customers and communities across the country. The plan includes an approximate $1 billion investment to open more than 100 new locations and renovate more than 1,200 existing locations through 2028. PNC Bank Branch Through this investm ...

PITTSBURGH, Feb. 7, 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 8:50 a.m. (ET) Wednesday, Feb 21, at the Bank of America Financial Services Conference in Miami, FL. The following will be accessible at www.pnc.com/investorevents: a link to the live webcast; related materials, including cautionary statements regarding forward-looking informat ...