The PNC Financial Services Group, Inc.’s (PNC) second-quarter 2024 earnings per share of $3.39 surpassed the Zacks Consensus Estimate of $3. In the prior-year quarter, the company reported earnings per share of $3.36.PNC shares have gained 1.2% in the pre-market trading on better-than-expected results.Results were aided by a rise in fee income and higher loan balance, along with reduced expenses. However, a decline in net interest income (NII) and an increase in provisions for credit losses acted as spoilsp ...

Second Quarter 2024 Earnings Conference Call July 16, 2024 Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information Our earnings conference call presentation is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings and on our corporate website. The presentation contains forward-looking statements regarding our outlook for financial performance, such as earnings, revenues, expenses, t ...

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.30 per share, beating the Zacks Consensus Estimate of $3 per share. This compares to earnings of $3.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10%. A quarter ago, it was expected that this company would post earnings of $3.09 per share when it actually produced earnings of $3.36, delivering a surprise of 8.74%.Over the last four quarters ...

THE PNC FINANCIAL SERVICES GROUP, INC. FINANCIAL SUPPLEMENT SECOND QUARTER 2024 (Unaudited) Exhibit 99.2 THE PNC FINANCIAL SERVICES GROUP, INC. FINANCIAL SUPPLEMENT SECOND QUARTER 2024 (UNAUDITED) | --- | --- | |--------------------------------|-------| | Consolidated Results: | Page | | Income Statement | 1 | | Balance Sheet | 2 | | Average Balance Sheet | 3 | | Details of Net Interest Margin | 4 | | Loans | 5 | | Allowance for Credit Losses | 6-7 | | Nonperforming Assets | 8 | | Accruing Loans Past Due | ...

Generated positive operating leverage; grew NII and NIM; maintained 2.5% SCB requirementIncreased quarterly common stock dividend 5 cents to $1.60 per share on July 2, 2024PITTSBURGH, July 16, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:For the quarter In millions, except per share data and as noted 2Q24 1Q24 2Q23 Second Quarter Highlights Financial Results Comparisons reflect 2Q24 vs. 1Q24 Net interest income (NII) $    3,302 $    3,264 $    3,510 Income Statement ...

The upcoming report from The PNC Financial Services Group, Inc (PNC) is expected to reveal quarterly earnings of $3 per share, indicating a decline of 10.7% compared to the year-ago period. Analysts forecast revenues of $5.3 billion, representing an increase of 0.1% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a compan ...

The PNC Financial Services Group, Inc. (PNC) is scheduled to report its second-quarter 2024 earnings on Jul 16, before the opening bell. The bank’s second-quarter 2024 revenues are expected to have improved from the year-ago reported level, while earnings are expected to have declined.In the last reported quarter, its earnings outpaced the Zacks Consensus Estimate due to a rise in deposit balances and an improvement in the company’s credit quality. However, an increase in non-interest expenses and lower net ...

PITTSBURGH, July 2, 2024 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.60 per share, an increase of $0.05 cents per share, or 3%, from the second quarter dividend of $1.55 per share. The dividend will be payable Aug. 5, 2024, to shareholders of record at the close of business July 15, 2024."The increase in our dividend reflects our continued financial strength and our board's confidence in our strateg ...

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]